Evercore ISI Issues Positive Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price target increased by research analysts at Evercore ISI from $72.00 to $80.00 in a research report issued on Friday, MarketBeat reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 14.49% from the company’s current price.

MNST has been the subject of a number of other research reports. Bank of America boosted their price target on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus boosted their price objective on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.41.

Monster Beverage Trading Up 5.4%

Shares of NASDAQ:MNST traded up $3.57 on Friday, reaching $69.88. 7,437,293 shares of the company’s stock were exchanged, compared to its average volume of 5,921,305. Monster Beverage has a twelve month low of $45.70 and a twelve month high of $72.62. The company has a fifty day moving average of $66.44 and a 200-day moving average of $63.36. The company has a market capitalization of $68.23 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. As a group, equities research analysts forecast that Monster Beverage will post 1.62 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently made changes to their positions in the business. Access Investment Management LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after acquiring an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Monster Beverage during the 3rd quarter valued at $27,000. Salomon & Ludwin LLC purchased a new stake in Monster Beverage in the second quarter worth about $28,000. Finally, Newbridge Financial Services Group Inc. increased its position in Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

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: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.