Bank of America Boosts Celsius (NASDAQ:CELH) Price Target to $40.00

Celsius (NASDAQ:CELH) had its target price upped by Bank of America from $35.00 to $40.00 in a report released on Friday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential downside of 23.00% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Celsius from $44.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on shares of Celsius from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Stifel Nicolaus boosted their price target on shares of Celsius from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Truist Financial boosted their price target on shares of Celsius from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, TD Cowen upgraded Celsius from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $55.00 in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Celsius currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.72.

Celsius Price Performance

Shares of NASDAQ CELH opened at $51.95 on Friday. Celsius has a fifty-two week low of $21.10 and a fifty-two week high of $53.85. The firm’s 50-day simple moving average is $44.51 and its 200 day simple moving average is $36.13. The company has a quick ratio of 3.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.68. The stock has a market cap of $13.39 billion, a P/E ratio of 140.41, a P/E/G ratio of 1.81 and a beta of 1.40.

Celsius (NASDAQ:CELH) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.23 by $0.24. Celsius had a net margin of 7.91% and a return on equity of 36.88%. The firm had revenue of $739.30 million for the quarter, compared to analysts’ expectations of $632.13 million. During the same period in the previous year, the business earned $0.28 earnings per share. Celsius’s revenue for the quarter was up 83.9% compared to the same quarter last year. Equities analysts expect that Celsius will post 0.89 EPS for the current year.

Insider Activity

In other news, major shareholder William H. Milmoe sold 300,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $47.27, for a total value of $14,181,000.00. Following the transaction, the insider owned 18,017,770 shares in the company, valued at $851,699,987.90. This represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Fieldly sold 143,167 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $51.18, for a total value of $7,327,287.06. Following the completion of the transaction, the chief executive officer owned 895,410 shares in the company, valued at $45,827,083.80. This represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,106,141 shares of company stock worth $51,985,705 in the last 90 days. Company insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Celsius

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in Celsius by 14.0% in the second quarter. Creative Planning now owns 40,389 shares of the company’s stock worth $1,874,000 after acquiring an additional 4,958 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Celsius by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,395 shares of the company’s stock valued at $1,874,000 after buying an additional 2,753 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Celsius by 39.3% in the second quarter. Foundations Investment Advisors LLC now owns 17,177 shares of the company’s stock worth $797,000 after buying an additional 4,846 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Celsius by 42.0% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,496 shares of the company’s stock worth $682,000 after acquiring an additional 4,288 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in shares of Celsius during the 2nd quarter valued at about $3,368,000. Institutional investors 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.