Monster Beverage (NASDAQ:MNST) Price Target Raised to $77.00

Monster Beverage (NASDAQ:MNST) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $75.00 to $77.00 in a research report report published on Friday morning, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other research firms have also weighed in on MNST. UBS Group restated a “neutral” rating and set a $75.00 target price (up previously from $72.00) on shares of Monster Beverage in a report on Friday, October 31st. Roth Capital reissued a “neutral” rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Jefferies Financial Group restated a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a research note on Tuesday, November 4th. Wells Fargo & Company increased their target price on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup reiterated a “buy” rating and set a $79.00 target price (up from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.41.

Monster Beverage Trading Up 0.8%

NASDAQ:MNST traded up $0.55 on Friday, hitting $70.28. 2,514,021 shares of the stock were exchanged, compared to its average volume of 5,937,966. The stock has a fifty day moving average of $66.59 and a 200-day moving average of $63.50. The stock has a market cap of $68.63 billion, a PE ratio of 43.63, a PEG ratio of 2.31 and a beta of 0.53. Monster Beverage has a fifty-two week low of $45.70 and a fifty-two week high of $72.62.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts predict that Monster Beverage will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 8.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monster Beverage

A number of institutional investors have recently made changes to their positions in MNST. Armstrong Advisory Group Inc. increased its stake in Monster Beverage by 49.0% during the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after purchasing an additional 146 shares during the last quarter. D.A. Davidson & CO. raised its stake in Monster Beverage by 4.1% during the third quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock worth $265,000 after acquiring an additional 155 shares during the period. Premier Path Wealth Partners LLC boosted its stake in Monster Beverage by 3.2% in the third quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock valued at $353,000 after acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC grew its holdings in shares of Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after purchasing an additional 174 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Monster Beverage by 13.4% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock worth $93,000 after purchasing an additional 176 shares during the period. 72.36% of the stock is currently owned by institutional investors.

About Monster Beverage

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.