Vita Coco (NASDAQ:COCO) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Vita Coco (NASDAQ:COCOGet Rating) from a sell rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “THE VITA COCO COMPANY provides beverage platform. The company’s brands include coconut water, Vita Coco; clean energy drink Runa; sustainable enhanced water, Ever & Ever and protein-infused water, PWR LIFT. THE VITA COCO COMPANY is based in NEW YORK. “

Several other research analysts have also recently weighed in on the stock. Piper Sandler cut their price target on shares of Vita Coco from $17.00 to $15.00 and set a na rating on the stock in a report on Monday. Credit Suisse Group cut their target price on Vita Coco from $16.00 to $14.00 and set an outperform rating on the stock in a research note on Friday, March 11th. Bank of America lowered Vita Coco from a buy rating to a neutral rating and dropped their price target for the stock from $15.00 to $10.00 in a report on Monday, March 14th. The Goldman Sachs Group reduced their price objective on Vita Coco from $19.00 to $17.00 and set a buy rating for the company in a research note on Monday, April 4th. Finally, Wells Fargo & Company lowered their target price on Vita Coco from $15.00 to $11.00 and set an overweight rating on the stock in a research note on Friday, March 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $15.14.

COCO stock opened at $10.25 on Monday. Vita Coco has a twelve month low of $7.51 and a twelve month high of $18.61. The stock’s 50 day moving average is $9.61 and its 200-day moving average is $11.04.

Vita Coco (NASDAQ:COCOGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Equities research analysts anticipate that Vita Coco will post 0.39 EPS for the current fiscal year.

In other Vita Coco news, Director Kenneth Sadowsky acquired 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average cost of $7.87 per share, for a total transaction of $78,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Martin F. Roper bought 25,000 shares of the company’s stock in a transaction on Friday, March 18th. The shares were bought at an average price of $9.06 per share, for a total transaction of $226,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 85,000 shares of company stock valued at $727,700 in the last quarter.

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in Vita Coco during the 4th quarter valued at about $29,000. TimesSquare Capital Management LLC purchased a new position in Vita Coco during the fourth quarter valued at approximately $8,715,000. Northern Trust Corp bought a new stake in Vita Coco during the 4th quarter worth approximately $1,149,000. Bank of America Corp DE purchased a new stake in Vita Coco in the 4th quarter worth approximately $1,416,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Vita Coco in the 4th quarter valued at $209,000. 16.12% of the stock is currently owned by institutional investors and hedge funds.

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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