Truist Financial Forecasts Strong Price Appreciation for Celsius (NASDAQ:CELH) Stock

Celsius (NASDAQ:CELH) had its price target raised by research analysts at Truist Financial from $50.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 20.85% from the stock’s previous close.

Several other brokerages also recently issued reports on CELH. TD Cowen raised shares of Celsius from a “hold” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $55.00 in a research note on Monday, June 16th. JPMorgan Chase & Co. boosted their target price on shares of Celsius from $39.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Stifel Nicolaus started coverage on shares of Celsius in a research note on Thursday, June 12th. They issued a “buy” rating and a $47.00 price target for the company. UBS Group increased their target price on shares of Celsius from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, LADENBURG THALM/SH SH cut their price target on shares of Celsius from $62.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Celsius currently has an average rating of “Moderate Buy” and an average target price of $45.94.

Celsius Stock Up 0.1%

CELH stock opened at $45.51 on Monday. Celsius has a twelve month low of $21.10 and a twelve month high of $53.41. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 142.22, a P/E/G ratio of 1.61 and a beta of 1.45. The business has a 50 day moving average price of $41.38 and a two-hundred day moving average price of $33.84.

Celsius (NASDAQ:CELH) last announced its earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $329.28 million for the quarter, compared to analysts’ expectations of $349.09 million. Celsius had a net margin of 8.40% and a return on equity of 42.12%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate that Celsius will post 0.89 EPS for the current fiscal year.

Insider Transactions at Celsius

In related news, CEO John Fieldly sold 130,803 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $45.00, for a total value of $5,886,135.00. Following the completion of the sale, the chief executive officer owned 1,038,577 shares of the company’s stock, valued at $46,735,965. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder William H. Milmoe sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $47.27, for a total transaction of $14,181,000.00. Following the completion of the transaction, the insider directly owned 18,017,770 shares in the company, valued at approximately $851,699,987.90. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 562,974 shares of company stock worth $25,758,418. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its stake in shares of Celsius by 162.5% during the second quarter. Public Employees Retirement System of Ohio now owns 142,315 shares of the company’s stock valued at $6,602,000 after acquiring an additional 88,090 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Celsius by 10.2% during the second quarter. Ballentine Partners LLC now owns 7,348 shares of the company’s stock worth $341,000 after purchasing an additional 678 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Celsius in the second quarter worth about $260,000. GAMMA Investing LLC raised its position in shares of Celsius by 90.0% in the second quarter. GAMMA Investing LLC now owns 3,899 shares of the company’s stock valued at $181,000 after purchasing an additional 1,847 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Celsius by 35.6% in the second quarter. Farther Finance Advisors LLC now owns 2,446 shares of the company’s stock valued at $113,000 after purchasing an additional 642 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.