Monster Beverage’s (MNST) Buy Rating Reiterated at Jefferies Group LLC

Monster Beverage Co. (NASDAQ:MNST)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group LLC in a research note issued on Friday, May 5th. They presently have a $63.00 price target on the stock. Jefferies Group LLC’s target price would indicate a potential upside of 32.10% from the company’s current price.

The analysts wrote, “We lift our PT to $63 following MNST’s solid 1Q results as the co. continues to deliver peer-leading org sales growth (+9.5% in qtr) in a tough env’t. LT story here is very much intact with a long runway in intl. (30% FX neutral in 1Q) and US results improving after soft Dec-Feb. Our FY17-19 EPS est. are little changed, though at 17x ’18e EV/EBITDA (16% prem. to KO/PEP), MNST still has room to re-rate vs. hist. ~35% avg. prem. to peers. MNST remains a top pick. MNST posted a solid 1Q as the co. delivered 9.5% org sales growth, 255 bps of GM% expansion, and 22% adj. EPS growth (all items adj. for deferred revenue and distributor termination costs). Though results fell modestly short of consensus (-1% net sales/gross profit misses, adj. EPS of $0.32 was $0.01 below Street), the co.””

MNST has been the topic of a number of other research reports. Cowen and Company reissued an “outperform” rating and issued a $52.00 price objective on shares of Monster Beverage in a report on Tuesday, February 28th. BMO Capital Markets reissued a “buy” rating on shares of Monster Beverage in a report on Thursday, April 27th. Susquehanna Bancshares Inc set a $39.00 price target on shares of Monster Beverage and gave the company a “hold” rating in a report on Sunday, January 15th. JPMorgan Chase & Co. started coverage on shares of Monster Beverage in a report on Tuesday, March 21st. They set an “overweight” rating and a $56.00 price target on the stock. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $45.00 price target on shares of Monster Beverage in a report on Sunday, April 2nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.49.

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

Monster Beverage (NASDAQ:MNST) traded up 1.88% on Friday, reaching $47.69. 2,221,310 shares of the company’s stock traded hands. The company’s 50 day moving average is $46.09 and its 200-day moving average is $44.93. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of 38.40 and a beta of 0.77. Monster Beverage has a 52-week low of $40.64 and a 52-week high of $55.50.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $742.10 million for the quarter, compared to the consensus estimate of $738.54 million. Monster Beverage had a net margin of 23.07% and a return on equity of 17.06%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share. Equities analysts expect that Monster Beverage will post $1.48 EPS for the current year.

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In other Monster Beverage news, insider Mark J. Hall sold 93,000 shares of Monster Beverage stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $46.12, for a total transaction of $4,289,160.00. Following the completion of the transaction, the insider now directly owns 866,808 shares of the company’s stock, valued at $39,977,184.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harold C. Taber, Jr. sold 15,000 shares of Monster Beverage stock in a transaction on Friday, March 10th. The stock was sold at an average price of $47.08, for a total transaction of $706,200.00. Following the transaction, the director now directly owns 70,001 shares of the company’s stock, valued at $3,295,647.08. The disclosure for this sale can be found here. Insiders sold 595,500 shares of company stock worth $27,586,110 in the last 90 days. 9.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Monster Beverage by 59.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock valued at $213,000 after buying an additional 1,712 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Monster Beverage during the first quarter worth about $601,000. HighTower Advisors LLC raised its stake in shares of Monster Beverage by 9.9% in the first quarter. HighTower Advisors LLC now owns 70,167 shares of the company’s stock worth $3,236,000 after buying an additional 6,325 shares in the last quarter. Marshall & Sullivan Inc. WA raised its stake in shares of Monster Beverage by 8.2% in the first quarter. Marshall & Sullivan Inc. WA now owns 42,691 shares of the company’s stock worth $2,025,000 after buying an additional 3,250 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Monster Beverage by 6.3% in the first quarter. Credit Suisse AG now owns 866,332 shares of the company’s stock worth $39,998,000 after buying an additional 51,522 shares in the last quarter. 28.01% of the stock is owned by institutional investors.

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.

12 Month Chart for NASDAQ:MNST

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