Beyond Meat (NASDAQ:BYND) Given New $6.00 Price Target at TD Cowen

Beyond Meat (NASDAQ:BYND) had its price objective lowered by TD Cowen from $10.00 to $6.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a sell rating on the stock.

A number of other brokerages also recently issued reports on BYND. Argus upgraded Beyond Meat from a sell rating to a hold rating in a research note on Thursday, February 29th. BMO Capital Markets upped their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a market perform rating in a research note on Wednesday, February 28th. Finally, Mizuho upped their price objective on Beyond Meat from $5.00 to $7.00 and gave the company an underperform rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of Reduce and an average target price of $6.00.

Beyond Meat Trading Down 2.0 %

NASDAQ BYND opened at $6.43 on Wednesday. The firm has a market capitalization of $415.89 million, a P/E ratio of -1.23 and a beta of 2.41. The business has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $7.72. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The company had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.05) earnings per share. As a group, sell-side analysts predict that Beyond Meat will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Meat

Large investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA increased its holdings in Beyond Meat by 16.3% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock worth $222,000 after acquiring an additional 3,500 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Beyond Meat by 716.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 359,718 shares of the company’s stock worth $3,460,000 after acquiring an additional 315,671 shares during the last quarter. Gotham Asset Management LLC increased its holdings in Beyond Meat by 5.6% in the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after acquiring an additional 1,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Beyond Meat by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock worth $4,654,000 after acquiring an additional 30,998 shares during the last quarter. Finally, Sigma Planning Corp purchased a new stake in Beyond Meat in the 3rd quarter worth about $98,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.