Monster Beverage Corporation (MNST) is Downgraded by Wells Fargo to Market Perform

Monster Beverage Corporation (MNST) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Monster Beverage Corporation. Company shares were Reiterated by UBS on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 170 from a previous price target of $168 .

On the company’s financial health, Monster Beverage Corporation reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.74. The company had revenue of $680.20 million for the quarter, compared to analysts expectations of $656.78 million. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Monster Beverage Corporation closed down -0.51 points or -0.31% at $161.6 with 6,47,914 shares getting traded on Friday. Post opening the session at $162.53, the shares hit an intraday low of $159.92 and an intraday high of $162.67 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 17, 2016, Hilton H Schlosberg (Vice Chairman and President) sold 2,001,350 shares at $156.00 per share price. According to the SEC, on Jun 17, 2016, Rodney C Sacks (Chairman and CEO) sold 2,396,288 shares at $156.00 per share price. On Jun 14, 2016, Harold C Jr Taber (director) sold 5,000 shares at $154.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Monster Beverage Corporation

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