Monster Beverage (NASDAQ:MNST) Price Target Raised to $60.00 at Wells Fargo & Company

Monster Beverage (NASDAQ:MNST) had its price objective hoisted by Wells Fargo & Company from $57.00 to $60.00 in a report released on Tuesday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms have also commented on MNST. JPMorgan Chase & Co. cut their target price on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday. Bank of America lifted their target price on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Evercore ISI reduced their target price on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup cut their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Roth Mkm decreased their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $54.11 on Tuesday. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The stock has a fifty day moving average price of $51.25 and a two-hundred day moving average price of $50.97. The firm has a market cap of $53.00 billion, a P/E ratio of 33.61, a PEG ratio of 2.37 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. Monster Beverage’s revenue was up 2.4% on a year-over-year basis. Research analysts forecast that Monster Beverage will post 1.66 EPS for the current fiscal year.

Institutional Trading of Monster Beverage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. increased its position in Monster Beverage by 9.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after acquiring an additional 189 shares during the period. Journey Advisory Group LLC raised its position in shares of Monster Beverage by 4.1% during the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after buying an additional 196 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Monster Beverage by 5.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock valued at $256,000 after buying an additional 209 shares during the period. Crossmark Global Holdings Inc. grew its position in Monster Beverage by 0.4% during the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after buying an additional 211 shares in the last quarter. Finally, Crewe Advisors LLC increased its stake in Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.