Bank of America Boosts Monster Beverage (NASDAQ:MNST) Price Target to $57.00

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price objective lifted by investment analysts at Bank of America from $56.00 to $57.00 in a research note issued to investors on Tuesday, StockNewsAPI reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 10.29% from the company's previous close.

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A number of other equities research analysts also recently weighed in on the company. Truist Financial lowered their price target on Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Friday, August 9th. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus dropped their target price on Monster Beverage from $63.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, June 17th. Royal Bank of Canada reduced their price target on shares of Monster Beverage from $64.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Finally, UBS Group boosted their price objective on shares of Monster Beverage from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Monster Beverage has a consensus rating of "Moderate Buy" and a consensus price target of $55.68.

Get Our Latest Stock Analysis on Monster Beverage

Monster Beverage Stock Up 0.7 %

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Shares of NASDAQ MNST opened at $51.68 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $49.25 and a 200-day moving average of $51.22. The firm has a market capitalization of $53.84 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.29 and a beta of 0.74. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $61.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. Monster Beverage's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. Sell-side analysts expect that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

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Several institutional investors and hedge funds have recently bought and sold shares of MNST. Chicago Partners Investment Group LLC purchased a new stake in shares of Monster Beverage in the 4th quarter worth about $211,000. Quadrature Capital Ltd purchased a new stake in Monster Beverage in the fourth quarter worth about $1,644,000. HighPoint Advisor Group LLC bought a new stake in Monster Beverage during the 4th quarter valued at approximately $772,000. Moody National Bank Trust Division grew its holdings in shares of Monster Beverage by 2.0% during the 1st quarter. Moody National Bank Trust Division now owns 22,860 shares of the company's stock worth $1,355,000 after acquiring an additional 459 shares during the period. Finally, CWM LLC raised its position in shares of Monster Beverage by 55.7% in the 1st quarter. CWM LLC now owns 22,444 shares of the company's stock worth $1,330,000 after acquiring an additional 8,028 shares in the last quarter. Hedge funds and other 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.

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