Brokerages Set Monster Beverage Corporation (NASDAQ:MNST) PT at $56.33

Monster Beverage Corporation (NASDAQ:MNST) has received an average recommendation of “Buy” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $56.75.

MNST has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) boosted their target price on shares of Monster Beverage Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Vetr raised shares of Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating and set a $52.90 target price for the company in a research note on Wednesday, May 17th. Credit Suisse Group reaffirmed a “buy” rating and issued a $59.00 target price on shares of Monster Beverage Corporation in a research note on Tuesday, April 4th. Jefferies Group LLC boosted their target price on shares of Monster Beverage Corporation from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research note on Monday, May 15th.

Shares of Monster Beverage Corporation (NASDAQ MNST) opened at 51.54 on Tuesday. Monster Beverage Corporation has a 52 week low of $40.64 and a 52 week high of $55.50. The firm has a 50 day moving average of $49.98 and a 200 day moving average of $46.24. The firm has a market cap of $29.26 billion, a price-to-earnings ratio of 41.50 and a beta of 0.95.

Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $742.10 million for the quarter, compared to analyst estimates of $738.54 million. Monster Beverage Corporation had a net margin of 23.36% and a return on equity of 23.36%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Equities analysts predict that Monster Beverage Corporation will post $1.49 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in MNST. FMR LLC boosted its position in shares of Monster Beverage Corporation by 0.4% in the first quarter. FMR LLC now owns 44,820,069 shares of the company’s stock valued at $2,069,342,000 after buying an additional 194,334 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Monster Beverage Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 27,660,996 shares of the company’s stock valued at $1,277,108,000 after buying an additional 799,703 shares during the last quarter. BlackRock Inc. boosted its position in shares of Monster Beverage Corporation by 1,887.5% in the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock valued at $995,459,000 after buying an additional 20,475,879 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Monster Beverage Corporation by 0.8% in the first quarter. Loomis Sayles & Co. L P now owns 20,621,437 shares of the company’s stock valued at $952,091,000 after buying an additional 169,196 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Monster Beverage Corporation by 1.2% in the first quarter. State Street Corp now owns 16,907,767 shares of the company’s stock valued at $780,633,000 after buying an additional 203,730 shares during the last quarter. Institutional investors and hedge funds own 65.70% of the company’s stock.

About Monster Beverage Corporation

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.

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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