Jefferies Group Downgrades Monster Beverage Corp to Hold (MNST)
Monster Beverage Corp (NASDAQ:MNST) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $95.00 target price on the stock, up from their previous target price of $80.00. Jefferies Group’s price objective would suggest a potential upside of 1.62% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded down 4.34% on Monday, hitting $89.43. The stock had a trading volume of 3,605,460 shares. Monster Beverage Corp has a 52 week low of $51.15 and a 52 week high of $94.93. The stock has a 50-day moving average of $68.6 and a 200-day moving average of $69.19. The company has a market cap of $14.951 billion and a price-to-earnings ratio of 40.12.
Monster Beverage Corp (NASDAQ:MNST) last released its earnings data on Thursday, August 7th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.06. The company had revenue of $687.20 million for the quarter, compared to the consensus estimate of $694.22 million. During the same quarter last year, the company posted $0.62 earnings per share. Monster Beverage Corp’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that Monster Beverage Corp will post $2.58 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Monster Beverage Corp to $95.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Monster Beverage Corp in a research note on Friday. They now have a $98.00 price target on the stock, up previously from $82.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Monster Beverage Corp from $75.00 to $94.00 in a research note on Friday. They now have a “buy” rating on the stock. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $86.00.
Monster Beverage Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage, such as non-carbonated ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks, and single-serve still water (NASDAQ:MNST) with beverages, including sodas that are considered natural, sparkling juices and flavored sparkling beverages.
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