Citigroup Inc. Downgrades Monster Beverage Corporation (MNST) to Neutral

Monster Beverage Corporation (NASDAQ:MNST) was downgraded by equities researchers at Citigroup Inc. to a “neutral” rating in a note issued to investors on Monday. They presently have a $51.00 price objective on the stock, down from their previous price objective of $56.00. Citigroup Inc.’s price objective suggests a potential downside of 17.97% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other equities analysts have also recently weighed in on the company. Credit Suisse Group cut Monster Beverage Corporation to a “hold” rating in a report on Friday, September 8th. Macquarie began coverage on Monster Beverage Corporation in a research report on Thursday, September 14th. They issued an “outperform” rating and a $65.00 target price on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research report on Wednesday, September 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a research report on Saturday, September 23rd. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $58.31.

Monster Beverage Corporation (NASDAQ MNST) opened at $62.17 on Monday. The firm has a market capitalization of $35,060.00, a P/E ratio of 42.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.91. Monster Beverage Corporation has a fifty-two week low of $41.02 and a fifty-two week high of $62.80.

Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $909.50 million during the quarter, compared to analysts’ expectations of $903.82 million. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. Monster Beverage Corporation’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. analysts forecast that Monster Beverage Corporation will post 1.48 earnings per share for the current year.

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In related news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the sale, the director now directly owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Huntington National Bank increased its position in Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares during the period. Commonwealth Bank of Australia increased its position in Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after buying an additional 232 shares during the period. Liberty Capital Management Inc. increased its position in Monster Beverage Corporation by 2,028.0% in the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after buying an additional 2,028 shares during the period. Sun Life Financial INC increased its position in Monster Beverage Corporation by 29,250.0% in the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after buying an additional 2,925 shares during the period. Finally, Bessemer Group Inc. increased its position in Monster Beverage Corporation by 397.6% in the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after buying an additional 2,143 shares during the period. 64.89% of the stock is currently owned by institutional investors and hedge funds.

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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