Monster Beverage (NASDAQ:MNST) Price Target Raised to $60.00

Monster Beverage (NASDAQ:MNST) had its target price hoisted by Wells Fargo & Company from $57.00 to $60.00 in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently commented on MNST. BMO Capital Markets lowered their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group lowered their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler decreased their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $55.79.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $54.73 on Tuesday. The business’s 50 day simple moving average is $51.40 and its two-hundred day simple moving average is $51.00. Monster Beverage has a one year low of $43.32 and a one year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The stock has a market capitalization of $53.61 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. Monster Beverage’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts forecast that Monster Beverage will post 1.66 EPS for the current year.

Institutional Trading of Monster Beverage

A number of large investors have recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in Monster Beverage during the first quarter valued at $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage in the second quarter worth approximately $26,000. Kings Path Partners LLC bought a new stake in Monster Beverage during the second quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Monster Beverage during the second quarter valued at approximately $30,000. Finally, Crewe Advisors LLC bought a new position in Monster Beverage in the first quarter worth approximately $37,000. 72.36% of the stock is currently owned by institutional investors.

About Monster Beverage

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.