Beyond Meat (NASDAQ:BYND) Price Target Lowered to $150.00 at Bank of America

Beyond Meat (NASDAQ:BYND) had its price target lowered by equities researchers at Bank of America from $182.00 to $150.00 in a research report issued on Thursday, Briefing.com Automated Import reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 21.05% from the stock’s current price.

A number of other research firms have also recently commented on BYND. Credit Suisse Group raised their price target on Beyond Meat from $70.00 to $125.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Exane BNP Paribas initiated coverage on Beyond Meat in a report on Monday, September 23rd. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. raised Beyond Meat from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $188.00 to $189.00 in a report on Tuesday, August 20th. Zacks Investment Research raised Beyond Meat from a “hold” rating to a “buy” rating and set a $197.00 target price on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Co initiated coverage on Beyond Meat in a report on Monday. They issued a “market perform” rating and a $125.00 target price on the stock. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $135.03.

NASDAQ:BYND opened at $123.92 on Thursday. The company has a current ratio of 8.95, a quick ratio of 7.90 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $150.05. Beyond Meat has a 52 week low of $45.00 and a 52 week high of $239.71.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The business had revenue of $67.25 million for the quarter, compared to the consensus estimate of $50.94 million. As a group, analysts predict that Beyond Meat will post -0.22 earnings per share for the current fiscal year.

In related news, insider Charles Muth sold 24,574 shares of Beyond Meat stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $3,931,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of Beyond Meat stock in a transaction dated Monday, August 5th. The stock was 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. Insiders sold 821,957 shares of company stock worth $127,169,948 over the last ninety days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Enlightenment Research LLC purchased a new position in Beyond Meat in the third quarter worth about $936,000. Winslow Evans & Crocker Inc. grew its position in Beyond Meat by 154.4% in the third quarter. Winslow Evans & Crocker Inc. now owns 2,636 shares of the company’s stock worth $394,000 after acquiring an additional 1,600 shares in the last quarter. Private Capital Advisors Inc. purchased a new position in Beyond Meat in the third quarter worth about $483,000. Alpine Group USVI LLC purchased a new position in Beyond Meat in the third quarter worth about $4,941,000. Finally, Valeo Financial Advisors LLC purchased a new position in Beyond Meat in the third quarter worth about $30,000. Institutional investors own 9.45% 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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