Cowen and Company reiterated their outperform rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research report released on Thursday morning, The Fly reports. Cowen and Company currently has a $67.00 price objective on the stock, up from their previous price objective of $58.00.

A number of other equities analysts have also weighed in on MNST. Zacks Investment Research upgraded Monster Beverage Corporation from a hold rating to a buy rating and set a $58.00 price objective for the company in a research note on Monday, July 17th. BidaskClub upgraded Monster Beverage Corporation from a hold rating to a buy rating in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc restated a hold rating and issued a $42.00 price target (down previously from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Jefferies Group LLC lifted their price target on Monster Beverage Corporation from $63.00 to $65.00 and gave the company a buy rating in a research note on Wednesday, August 9th. Finally, Credit Suisse Group set a $61.00 price target on Monster Beverage Corporation and gave the company an outperform rating in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $58.68.

Monster Beverage Corporation (NASDAQ:MNST) traded up $2.48 during midday trading on Thursday, hitting $61.16. The company’s stock had a trading volume of 4,589,000 shares, compared to its average volume of 1,739,262. The stock has a market cap of $34,491.98, a price-to-earnings ratio of 41.61, a P/E/G ratio of 2.18 and a beta of 0.91. Monster Beverage Corporation has a twelve month low of $40.64 and a twelve month high of $61.33.

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

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In other news, Director Sydney Selati sold 10,000 shares of the business’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 transaction, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.40% of the company’s stock.

Several institutional investors have recently modified their holdings of MNST. OppenheimerFunds Inc. boosted its holdings in shares of Monster Beverage Corporation by 10.9% during the 1st quarter. OppenheimerFunds Inc. now owns 8,291 shares of the company’s stock worth $383,000 after purchasing an additional 812 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Monster Beverage Corporation by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 955,106 shares of the company’s stock worth $44,097,000 after purchasing an additional 14,692 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Monster Beverage Corporation by 16.1% during the 1st quarter. Tudor Investment Corp ET AL now owns 8,812 shares of the company’s stock worth $407,000 after purchasing an additional 1,223 shares during the last quarter. Creative Planning boosted its holdings in shares of Monster Beverage Corporation by 24.2% during the 2nd quarter. Creative Planning now owns 62,051 shares of the company’s stock worth $3,083,000 after purchasing an additional 12,108 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Monster Beverage Corporation by 9.5% during the 2nd quarter. National Pension Service now owns 366,323 shares of the company’s stock worth $18,283,000 after purchasing an additional 31,856 shares during the last quarter. Institutional investors and hedge funds own 65.84% of the company’s stock.

Monster Beverage Corporation Company Profile

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.

The Fly

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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