Celsius (NASDAQ:CELH) Given New $60.00 Price Target at Bank of America

Celsius (NASDAQ:CELH) had its price objective lowered by Bank of America from $84.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 4.40% from the company’s previous close.

Other analysts also recently issued reports about the company. Maxim Group reduced their target price on Celsius from $110.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $65.00 price objective on shares of Celsius in a research note on Tuesday. TD Cowen reduced their price objective on Celsius from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Roth Mkm reduced their price objective on Celsius from $96.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Finally, Jefferies Financial Group reduced their price objective on Celsius from $104.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Celsius currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.22.

Celsius Stock Performance

Shares of NASDAQ:CELH traded up $1.92 on Wednesday, hitting $57.47. 2,993,185 shares of the company’s stock were exchanged, compared to its average volume of 4,993,745. The firm’s 50-day moving average is $73.22 and its 200 day moving average is $70.62. The company has a market capitalization of $13.40 billion, a PE ratio of 62.85, a P/E/G ratio of 1.62 and a beta of 1.90. Celsius has a 1-year low of $45.03 and a 1-year high of $99.62.

Celsius (NASDAQ:CELH) last posted its earnings results on Tuesday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. Celsius had a return on equity of 111.29% and a net margin of 18.63%. The business had revenue of $355.70 million during the quarter, compared to the consensus estimate of $390.37 million. During the same period in the previous year, the business earned $0.13 EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. On average, analysts anticipate that Celsius will post 1.07 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder William H. Milmoe sold 428,568 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $59.67, for a total value of $25,572,652.56. Following the completion of the transaction, the insider now directly owns 25,464,453 shares of the company’s stock, valued at approximately $1,519,463,910.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jarrod Langhans sold 4,079 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $69.42, for a total value of $283,164.18. Following the completion of the transaction, the chief financial officer now directly owns 83,670 shares of the company’s stock, valued at approximately $5,808,371.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William H. Milmoe sold 428,568 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $59.67, for a total value of $25,572,652.56. Following the transaction, the insider now directly owns 25,464,453 shares of the company’s stock, valued at approximately $1,519,463,910.51. The disclosure for this sale can be found here. Insiders sold 1,776,696 shares of company stock valued at $107,920,209 in the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CELH. Toroso Investments LLC lifted its stake in shares of Celsius by 224.6% in the third quarter. Toroso Investments LLC now owns 5,444 shares of the company’s stock worth $934,000 after acquiring an additional 3,767 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Celsius by 41.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,299 shares of the company’s stock valued at $2,797,000 after buying an additional 4,771 shares during the last quarter. Vanguard Group Inc. increased its holdings in Celsius by 18.7% in the third quarter. Vanguard Group Inc. now owns 4,846,599 shares of the company’s stock valued at $831,676,000 after buying an additional 762,087 shares during the last quarter. DNB Asset Management AS bought a new stake in Celsius in the fourth quarter valued at about $1,240,000. Finally, Harbour Capital Advisors LLC bought a new stake in Celsius in the fourth quarter valued at about $513,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Celsius Company Profile

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.