Beyond Meat (NASDAQ:BYND) Receives Average Rating of “Hold” from Analysts

Beyond Meat (NASDAQ:BYND) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $139.24.

Several research firms have recently weighed in on BYND. Sanford C. Bernstein lowered Beyond Meat from an “outperform” rating to a “market perform” rating and set a $123.00 price objective on the stock. in a research note on Wednesday, June 12th. They noted that the move was a valuation call. Exane BNP Paribas began coverage on Beyond Meat in a research report on Monday, September 23rd. They set an “underperform” rating on the stock. JPMorgan Chase & Co. upgraded Beyond Meat from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $188.00 to $189.00 in a research report on Tuesday, August 20th. Zacks Investment Research upgraded Beyond Meat from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Tuesday, August 6th. Finally, BNP Paribas began coverage on Beyond Meat in a research report on Monday, September 23rd. They set an “underperform” rating on the stock.

Shares of BYND stock traded up $0.28 during trading hours on Monday, hitting $145.72. The company had a trading volume of 1,257,005 shares, compared to its average volume of 6,686,813. Beyond Meat has a 12 month low of $45.00 and a 12 month high of $239.71. The stock’s fifty day moving average is $153.07. The company has a current ratio of 8.95, a quick ratio of 7.90 and a debt-to-equity ratio of 0.07.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $67.25 million during the quarter, compared to the consensus estimate of $50.94 million. Sell-side analysts forecast that Beyond Meat will post -0.22 EPS for the current year.

In other Beyond Meat news, insider Charles Muth sold 24,574 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $3,931,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $154.00, for a total value of $111,474,748.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 821,957 shares of company stock worth $127,169,948.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rocky Mountain Advisers LLC bought a new position in Beyond Meat in the 2nd quarter valued at $32,000. Sandy Spring Bank acquired a new position in shares of Beyond Meat in the 2nd quarter valued at $32,000. Sterling Investment Advisors Ltd. acquired a new position in shares of Beyond Meat in the 2nd quarter valued at $32,000. Golden State Wealth Management LLC acquired a new position in shares of Beyond Meat in the 2nd quarter valued at $40,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Beyond Meat in the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 9.44% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.

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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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