Argus Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its price objective increased by Argus from $55.00 to $65.00 in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets dropped their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Bank of America lifted their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Evercore ISI reduced their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Citigroup dropped their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Down 7.1 %

Shares of NASDAQ:MNST opened at $52.00 on Tuesday. The firm has a market capitalization of $50.57 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.74. The business has a 50 day simple moving average of $52.33 and a two-hundred day simple moving average of $51.09. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51.

Institutional Trading of Monster Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Monster Beverage by 307.1% in the 1st quarter. Empowered Funds LLC now owns 22,843 shares of the company’s stock worth $1,354,000 after buying an additional 17,232 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Monster Beverage during the first quarter worth $1,063,000. Bleakley Financial Group LLC lifted its position in Monster Beverage by 8.9% during the first quarter. Bleakley Financial Group LLC now owns 15,431 shares of the company’s stock valued at $915,000 after purchasing an additional 1,266 shares during the period. Edmond DE Rothschild Holding S.A. boosted its holdings in Monster Beverage by 9.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after purchasing an additional 189 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Monster Beverage by 26.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 777,869 shares of the company’s stock worth $46,112,000 after purchasing an additional 162,894 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

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.