In a report released today, Jeff Van Sinderen from B.Riley FBR maintained a Buy rating on Celsius Holdings Inc (NASDAQ: CELH), with a price target of $7. The company’s shares opened today at $3.75.
Van Sinderen observed:
“Celsius Holdings (CELH) reported 2Q results AMC on 8/9 with sales/EPS that came in below expectations due to domestic manufacturing delays, inventory reduction efforts by a Nordic distributor aiming to increase working capital and prepare for new flavor launches/label changes and a shift in order timing from a distributor in China. Sales were down 9% in 1Q while up 32% for 1H. AEBITDA came in above expectations. Domestic revenue grew 29% to record revenue in spite of $1.3M in orders that were shifted to 3Q because of delays at co- packing facilities (adding back $1.3M results in 48% growth). GM came in at 42.8%, impacted by slotting fees and similar costs in international.”
According to TipRanks.com, Sinderen is a 3-star analyst with an average return of 1.6% and a 50.9% success rate. Sinderen covers the Services sector, focusing on stocks such as Tilly’s Inc, Kirkland’s, and Zumiez Inc.
Currently, the analyst consensus on Celsius Holdings Inc is a Moderate Buy with an average price target of $7.50, implying a 100.0% upside from current levels. In a report released today, Maxim Group also maintained a Buy rating on the stock with a $8 price target.
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Based on Celsius Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.88 million. In comparison, last year the company had a net profit of $470.8K.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CELH in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Celsius Holdings, Inc. engages in the development, marketing, sale, and distribution of calorie-burning beverages. It offers flavors including grapefruit, cucumber lime, orange pomegranate, pineapple coconut, watermelon berry, and strawberries and cream. The company was founded in April 2004 and is headquartered in Boca Raton, FL.
