Goldman Sachs Group upgraded shares of Monster Beverage (NASDAQ:MNST) from a buy rating to a conviction-buy rating in a report published on Friday, The Fly reports.

MNST has been the subject of a number of other research reports. BidaskClub cut Monster Beverage from a buy rating to a hold rating in a report on Friday, August 24th. JPMorgan Chase & Co. lowered their target price on Monster Beverage from $64.00 to $58.00 and set a hold rating for the company in a report on Wednesday, October 24th. ValuEngine cut Monster Beverage from a buy rating to a hold rating in a report on Thursday, August 23rd. Jefferies Financial Group reaffirmed a buy rating and issued a $71.00 target price on shares of Monster Beverage in a report on Thursday. Finally, Stifel Nicolaus upped their target price on Monster Beverage from $63.00 to $65.00 and gave the stock a buy rating in a report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $63.63.

MNST traded up $2.70 on Friday, reaching $56.84. The stock had a trading volume of 5,340,989 shares, compared to its average volume of 3,222,555. Monster Beverage has a fifty-two week low of $47.61 and a fifty-two week high of $70.21. The stock has a market cap of $30.89 billion, a PE ratio of 38.93, a PEG ratio of 2.02 and a beta of 1.36.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. Monster Beverage had a return on equity of 25.64% and a net margin of 25.86%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $988.73 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts forecast that Monster Beverage will post 1.75 earnings per share for the current fiscal year.

Monster Beverage announced that its board has approved a share repurchase plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

In other Monster Beverage news, insider Emelie Tirre sold 17,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.91, for a total value of $1,035,470.00. Following the sale, the insider now owns 46,847 shares in the company, valued at approximately $2,853,450.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Harvest Fund Management Co. Ltd grew its position in shares of Monster Beverage by 287.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock valued at $111,000 after buying an additional 1,409 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $123,000. Exane Derivatives grew its position in shares of Monster Beverage by 7,740.0% in the 2nd quarter. Exane Derivatives now owns 2,352 shares of the company’s stock valued at $134,000 after buying an additional 2,322 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $175,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Monster Beverage during the 2nd quarter valued at about $181,000. Hedge funds and other institutional investors own 65.02% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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