Monster Beverage (NASDAQ:MNST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $75.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 12.83% from the stock’s current price.
According to Zacks, “Shares of Monster Beverage have gained 52.7% in the past year, outperforming the 17.9% rally of the industry. Also, earnings estimate for 2018 have moved north over the past 30 days. The company’s strong portfolio and focus on innovation should drive the stock’s performance in the upcoming quarters as well. The deal with Coca-Cola is expected to boost Monster Beverage’s presence in the international energy drinks market while its focus on innovation is likely to drive sales. However, softness in beverage industry, unfavorable currency translations and higher expenses in the United States raise concerns.”
A number of other research analysts have also commented on MNST. Royal Bank of Canada restated a “buy” rating and set a $61.00 price target on shares of Monster Beverage in a research report on Friday, September 22nd. Stifel Nicolaus restated a “buy” rating and set a $57.00 price target on shares of Monster Beverage in a research report on Saturday, September 23rd. Jefferies Group restated a “buy” rating and set a $65.00 price target on shares of Monster Beverage in a research report on Friday, October 13th. Citigroup set a $60.00 price target on shares of Monster Beverage and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Cowen restated a “buy” rating and set a $58.00 price target on shares of Monster Beverage in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Monster Beverage has an average rating of “Buy” and an average target price of $63.46.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The business had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. During the same period in the previous year, the business earned $0.34 EPS. Monster Beverage’s revenue was up 15.4% compared to the same quarter last year. analysts expect that Monster Beverage will post 1.48 EPS for the current year.
In other news, CEO Rodney C. Sacks sold 697 shares of Monster Beverage stock in a transaction on Friday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $44,963.47. Following the completion of the sale, the chief executive officer now directly owns 963,789 shares of the company’s stock, valued at approximately $62,174,028.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Rodney C. Sacks sold 189,861 shares of Monster Beverage stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The disclosure for this sale can be found here. Insiders have sold a total of 268,026 shares of company stock valued at $17,179,867 over the last ninety days. 9.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MNST. Liberty Capital Management Inc. lifted its holdings in shares of Monster Beverage by 2,028.0% during the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after acquiring an additional 2,028 shares during the last quarter. Sun Life Financial INC lifted its stake in Monster Beverage by 29,250.0% in the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after purchasing an additional 2,925 shares during the last quarter. Bessemer Group Inc. lifted its stake in Monster Beverage by 397.6% in the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after purchasing an additional 2,143 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Monster Beverage in the third quarter worth $169,000. Finally, Penserra Capital Management LLC bought a new stake in Monster Beverage in the third quarter worth $182,000. 65.69% of the stock is owned by institutional investors.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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