Celsius (NASDAQ:CELH) Price Target Raised to $55.00 at Bank of America

Key Points

• Bank of America has raised its price target for Celsius (NASDAQ:CELH) from $40.00 to $55.00, but maintains an "underperform" rating, suggesting a potential downside of 12.60% from the current stock price.
• The stock is currently trading at $62.93, reflecting a 3.1% increase, with a market cap of $16.23 billion and a PE ratio of 170.07.
• Celsius has received positive ratings from several analysts, with an average target price of $63.15 and a consensus rating of "Moderate Buy."

Celsius (NASDAQ:CELH - Get Free Report) had its price target upped by stock analysts at Bank of America from $40.00 to $55.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Bank of America's target price suggests a potential downside of 12.60% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Celsius in a research report on Saturday, September 27th. Jefferies Financial Group set a $72.00 target price on Celsius and gave the stock a "buy" rating in a report on Wednesday, September 3rd. UBS Group increased their price target on Celsius from $64.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. B. Riley increased their price objective on shares of Celsius from $56.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, TD Cowen raised shares of Celsius from a "hold" rating to a "buy" rating and increased their price objective for the company from $37.00 to $55.00 in a report on Monday, June 16th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Celsius currently has a consensus rating of "Moderate Buy" and an average target price of $63.15.

Celsius Stock Up 3.1%

Shares of CELH stock traded up $1.87 during midday trading on Wednesday, reaching $62.93. 3,627,298 shares of the stock were exchanged, compared to its average volume of 7,766,780. The company has a current ratio of 2.11, a quick ratio of 1.76 and a debt-to-equity ratio of 0.68. The company's 50 day moving average is $55.86 and its two-hundred day moving average is $45.39. Celsius has a 1 year low of $21.10 and a 1 year high of $63.50. The firm has a market cap of $16.23 billion, a PE ratio of 170.07, a price-to-earnings-growth ratio of 1.32 and a beta of 1.38.

Celsius (NASDAQ:CELH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.24. The firm had revenue of $739.30 million for the quarter, compared to analysts' expectations of $632.13 million. Celsius had a return on equity of 36.88% and a net margin of 7.91%.The business's revenue for the quarter was up 83.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. On average, equities research analysts predict that Celsius will post 0.89 EPS for the current year.

Insider Activity

In related news, insider Paul H. Storey sold 7,500 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $60.93, for a total transaction of $456,975.00. Following the completion of the transaction, the insider owned 37,550 shares in the company, valued at $2,287,921.50. This represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Fieldly sold 143,167 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $51.18, for a total transaction of $7,327,287.06. Following the sale, the chief executive officer directly owned 895,410 shares of the company's stock, valued at approximately $45,827,083.80. This represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 560,667 shares of company stock worth $27,240,162. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Celsius

A number of hedge funds have recently added to or reduced their stakes in the business. Oak Thistle LLC lifted its holdings in Celsius by 73.1% during the 3rd quarter. Oak Thistle LLC now owns 57,859 shares of the company's stock worth $3,326,000 after buying an additional 24,438 shares in the last quarter. New England Research & Management Inc. purchased a new position in Celsius during the 3rd quarter worth $371,000. Nilsine Partners LLC purchased a new position in Celsius during the 3rd quarter worth $740,000. GAMMA Investing LLC lifted its stake in shares of Celsius by 13.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,404 shares of the company's stock worth $253,000 after acquiring an additional 505 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in shares of Celsius by 65.7% in the 2nd quarter. Corient Private Wealth LLC now owns 13,193 shares of the company's stock worth $612,000 after acquiring an additional 5,230 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.

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