Monster Beverage (NASDAQ:MNST) Price Target Raised to $65.00 at Argus

Monster Beverage (NASDAQ:MNST) had its price objective boosted by analysts at Argus from $55.00 to $65.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Argus’ price target would indicate a potential upside of 15.29% from the stock’s previous close.

Several other brokerages have also issued reports on MNST. Stifel Nicolaus lifted their price target on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Truist Financial decreased their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Bank of America increased their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group lowered 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. Finally, UBS Group raised their target price on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $56.38 on Tuesday. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The stock has a market capitalization of $54.83 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 2.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The company’s 50 day simple moving average is $52.02 and its 200 day simple moving average is $51.02.

Institutional Trading of Monster Beverage

Several institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in shares of Monster Beverage by 307.1% in the 1st quarter. Empowered Funds LLC now owns 22,843 shares of the company’s stock worth $1,354,000 after purchasing an additional 17,232 shares during the period. Avantax Advisory Services Inc. bought a new position in Monster Beverage during the first quarter worth $1,063,000. Bleakley Financial Group LLC lifted its holdings in Monster Beverage by 8.9% in the first quarter. Bleakley Financial Group LLC now owns 15,431 shares of the company’s stock valued at $915,000 after buying an additional 1,266 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in Monster Beverage by 9.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after acquiring an additional 189 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Monster Beverage by 26.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 777,869 shares of the company’s stock valued at $46,112,000 after acquiring an additional 162,894 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

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.