Monster Beverage (NASDAQ:MNST) Price Target Increased to $64.00 by Analysts at Morgan Stanley

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Monster Beverage (NASDAQ:MNST) had its price objective upped by equities researchers at Morgan Stanley from $62.00 to $64.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 10.04% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Cowen downgraded Monster Beverage from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $69.00 to $65.00 in a research note on Thursday, October 17th. BidaskClub downgraded Monster Beverage from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Royal Bank of Canada set a $75.00 price objective on Monster Beverage and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets cut their price objective on Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Monster Beverage presently has a consensus rating of “Hold” and a consensus target price of $64.93.

Shares of MNST stock traded up $1.52 on Friday, reaching $58.16. 6,600,300 shares of the company’s stock traded hands, compared to its average volume of 3,454,498. The company has a market capitalization of $30.77 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17. The business’s 50 day moving average price is $56.72 and its two-hundred day moving average price is $60.34. Monster Beverage has a 12-month low of $47.74 and a 12-month high of $66.38.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. On average, equities research analysts expect that Monster Beverage will post 2.03 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Westside Investment Management Inc. acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $26,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $32,000. Coastal Capital Group Inc. acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $34,000. Motco raised its holdings in Monster Beverage by 47.1% in the 2nd quarter. Motco now owns 534 shares of the company’s stock valued at $34,000 after acquiring an additional 171 shares in the last quarter. Finally, West Oak Capital LLC acquired a new position in Monster Beverage in the 2nd quarter valued at approximately $38,000. 66.03% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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