Monster Beverage (NASDAQ:MNST) Price Target Lowered to $59.00 at Deutsche Bank Aktiengesellschaft

Monster Beverage (NASDAQ:MNST) had its price target reduced by Deutsche Bank Aktiengesellschaft from $61.00 to $59.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 8.98% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group cut their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company upped their target price on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm decreased their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. TD Cowen cut their price objective on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, July 15th. Finally, 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 report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $56.00.

Monster Beverage Price Performance

Shares of NASDAQ:MNST traded down $0.59 during midday trading on Friday, hitting $54.14. 10,426,260 shares of the stock were exchanged, compared to its average volume of 5,524,266. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22. 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 company has a 50 day moving average price of $51.69 and a 200-day moving average price of $51.03. The stock has a market cap of $53.03 billion, a P/E ratio of 34.71, a PEG ratio of 2.48 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts forecast that Monster Beverage will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. raised its stake in shares of Monster Beverage by 42.1% during the third quarter. Landscape Capital Management L.L.C. now owns 143,099 shares of the company’s stock valued at $7,465,000 after purchasing an additional 42,383 shares during the period. Intech Investment Management LLC grew its holdings in Monster Beverage by 26.4% during the 3rd quarter. Intech Investment Management LLC now owns 137,900 shares of the company’s stock valued at $7,194,000 after purchasing an additional 28,840 shares in the last quarter. Aurora Investment Counsel purchased a new stake in Monster Beverage during the 3rd quarter worth $2,092,000. Cornerstone Advisors LLC lifted its holdings in Monster Beverage by 9.7% in the 3rd quarter. Cornerstone Advisors LLC now owns 74,600 shares of the company’s stock worth $3,892,000 after buying an additional 6,600 shares in the last quarter. Finally, Bellwether Advisors LLC purchased a new position in Monster Beverage in the 3rd quarter valued at about $1,662,000. 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.