Monster Beverage (NASDAQ:MNST) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Monster Beverage from “strong buy” to “hold.” Despite the change, MarketBeat’s analyst consensus remains “Moderate Buy,” with a $67.07 average price target.
• Other analyst views were mixed: Bernstein raised its target to $51 and kept a “market perform” rating, while Goldman Sachs and Jefferies maintained “buy” ratings with $55 targets.
• Monster reported quarterly EPS of $0.30, matching estimates, while revenue of $2.53 billion beat forecasts and increased 16.7% year over year.

Monster Beverage (NASDAQ:MNST - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Monster Beverage from $50.00 to $51.00 and gave the stock a "market perform" rating in a report on Monday. The Goldman Sachs Group restated a "buy" rating and set a $55.00 target price on shares of Monster Beverage in a report on Friday, November 6th. UBS Group restated a "neutral" rating and issued a $50.00 price target (up from $49.00) on shares of Monster Beverage in a research note on Friday, November 6th. Royal Bank Of Canada reissued an "outperform" rating and set a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of Monster Beverage in a report on Friday, November 6th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.07.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $45.40 on Tuesday. The stock's 50-day simple moving average is $44.68 and its 200 day simple moving average is $43.37. Monster Beverage has a 52-week low of $35.03 and a 52-week high of $50.17. The stock has a market capitalization of $88.87 billion, a P/E ratio of 41.09, a P/E/G ratio of 2.98 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The company's revenue was up 16.7% on a year-over-year basis. Equities research analysts forecast that Monster Beverage will post 1.16 EPS for the current fiscal year.

Institutional Trading of Monster Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Retirement Wealth Solutions LLC increased its position in shares of Monster Beverage by 113.4% during the third quarter. Retirement Wealth Solutions LLC now owns 604 shares of the company's stock worth $25,000 after acquiring an additional 321 shares during the period. Davis Capital Management lifted its stake in shares of Monster Beverage by 98.8% during the 3rd quarter. Davis Capital Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 316 shares during the last quarter. TD Capital Management LLC lifted its position in shares of Monster Beverage by 100.0% during the third quarter. TD Capital Management LLC now owns 634 shares of the company's stock valued at $26,000 after buying an additional 317 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Monster Beverage in the second quarter valued at approximately $27,000. Finally, Balance Wealth Partners LLC acquired a new stake in shares of Monster Beverage in the 3rd quarter worth $27,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen's, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.

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