Monster Beverage (NASDAQ:MNST) Given New $55.00 Price Target at Roth Mkm

Monster Beverage (NASDAQ:MNST) had its price objective reduced by Roth Mkm from $57.00 to $55.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on MNST. Jefferies Financial Group initiated coverage on Monster Beverage in a report on Monday, November 13th. They issued a buy rating and a $65.00 target price for the company. Citigroup reduced their price objective on Monster Beverage from $67.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, October 11th. Bank of America reduced their price objective on Monster Beverage from $63.00 to $58.00 and set a buy rating for the company in a research note on Tuesday, October 17th. UBS Group reduced their price objective on Monster Beverage from $63.00 to $62.00 and set a neutral rating for the company in a research note on Friday, August 4th. Finally, Wells Fargo & Company raised their price objective on Monster Beverage from $55.00 to $60.00 and gave the company an overweight rating in a research note on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $60.77.

Monster Beverage Stock Performance

Shares of MNST stock opened at $54.82 on Monday. The company has a market cap of $57.04 billion, a P/E ratio of 36.79, a PEG ratio of 1.62 and a beta of 0.83. The stock has a 50 day simple moving average of $52.84 and a two-hundred day simple moving average of $56.08. Monster Beverage has a fifty-two week low of $47.13 and a fifty-two week high of $60.47.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Monster Beverage had a return on equity of 20.50% and a net margin of 22.62%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, research analysts predict that Monster Beverage will post 1.56 earnings per share for the current year.

Monster Beverage announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Monster Beverage

Hedge funds have recently made changes to their positions in the company. Freedom Wealth Alliance LLC bought a new stake in shares of Monster Beverage in the fourth quarter valued at $25,000. Peoples Bank KS bought a new stake in shares of Monster Beverage during the 3rd quarter valued at $26,000. Resurgent Financial Advisors LLC bought a new stake in shares of Monster Beverage during the 4th quarter valued at $26,000. Marquette Asset Management LLC bought a new stake in shares of Monster Beverage during the 2nd quarter valued at $27,000. Finally, Ancora Advisors LLC bought a new stake in shares of Monster Beverage during the 1st quarter valued at $27,000. 64.60% of the stock is currently owned by institutional investors.

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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.