Research analysts at Deutsche Bank started coverage on shares of Monster Beverage (NASDAQ:MNST) in a research report issued on Wednesday, The Fly reports. The firm set a “hold” rating on the stock.
Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage in a research note on Saturday, September 23rd. Credit Suisse Group cut Monster Beverage to a “hold” rating in a research note on Friday, September 8th. Jefferies Group reiterated a “buy” rating and issued a $64.00 price objective on shares of Monster Beverage in a research note on Thursday, November 9th. Cowen restated an “outperform” rating and set a $67.00 target price (up previously from $58.00) on shares of Monster Beverage in a research note on Thursday, November 9th. Finally, Citigroup cut Monster Beverage to a “neutral” rating and decreased their target price for the stock from $56.00 to $51.00 in a research note on Monday, November 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $59.24.
Monster Beverage (NASDAQ:MNST) traded up $0.60 during midday trading on Wednesday, reaching $63.51. The company’s stock had a trading volume of 1,675,701 shares, compared to its average volume of 2,199,347. The firm has a market cap of $35,495.85, a P/E ratio of 42.82, a P/E/G ratio of 2.24 and a beta of 0.94. Monster Beverage has a 52 week low of $41.02 and a 52 week high of $63.62.
Hedge funds and other institutional investors have recently modified their holdings of the business. Liberty Capital Management Inc. grew its holdings in Monster Beverage by 2,028.0% during the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after acquiring an additional 2,028 shares during the period. Commonwealth Bank of Australia grew its holdings in Monster Beverage by 11.0% during the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after acquiring an additional 232 shares during the period. Bessemer Group Inc. grew its holdings in Monster Beverage by 397.6% during the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after acquiring an additional 2,143 shares during the period. Sun Life Financial INC grew its holdings in Monster Beverage by 29,250.0% during the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after acquiring an additional 2,925 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in Monster Beverage during the third quarter worth $169,000. Institutional investors own 65.88% of the company’s stock.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
