The Vita Coco Company, Inc. (NASDAQ:COCO) Receives Average Rating of “Buy” from Brokerages

The Vita Coco Company, Inc. (NASDAQ:COCOGet Rating) has been given an average recommendation of “Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.43.

COCO has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Vita Coco from $15.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, March 11th. Bank of America cut Vita Coco from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $10.00 in a research note on Monday, March 14th. The Goldman Sachs Group lowered their price objective on Vita Coco from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, April 4th. Finally, Credit Suisse Group reduced their target price on shares of Vita Coco from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, March 11th.

In other news, CEO Martin F. Roper bought 25,000 shares of the company’s stock in a transaction dated Friday, March 18th. The shares were purchased at an average price of $9.06 per share, for a total transaction of $226,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin F. Roper purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were purchased at an average price of $8.45 per share, for a total transaction of $422,500.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 85,000 shares of company stock worth $727,700. Insiders own 7.16% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of Vita Coco during the fourth quarter valued at $29,000. TimesSquare Capital Management LLC bought a new position in Vita Coco during the 4th quarter valued at about $8,715,000. Northern Trust Corp purchased a new stake in shares of Vita Coco during the 4th quarter valued at about $1,149,000. Bank of America Corp DE bought a new stake in shares of Vita Coco in the fourth quarter worth approximately $1,416,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Vita Coco during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 1.86% of the company’s stock.

NASDAQ:COCO opened at $10.86 on Friday. The firm has a fifty day moving average of $9.74. Vita Coco has a twelve month low of $7.51 and a twelve month high of $18.61.

Vita Coco (NASDAQ:COCOGet Rating) last announced its earnings results on Thursday, March 10th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). On average, equities analysts expect that Vita Coco will post 0.35 EPS for the current year.

About Vita Coco (Get Rating)

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

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Analyst Recommendations for Vita Coco (NASDAQ:COCO)

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