Mizuho Lowers Beyond Meat (NASDAQ:BYND) Price Target to $6.00

Beyond Meat (NASDAQ:BYND) had its target price dropped by investment analysts at Mizuho from $7.00 to $6.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s price objective would indicate a potential downside of 1.15% from the company’s previous close.

Several other equities research analysts have also commented on the stock. TD Cowen decreased their target price on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research report on Wednesday, April 17th. Argus upgraded shares of Beyond Meat from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets boosted their price objective on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $5.83.

Beyond Meat Stock Performance

Shares of NASDAQ BYND opened at $6.07 on Monday. The firm has a market capitalization of $392.61 million, a P/E ratio of -1.16 and a beta of 2.41. Beyond Meat has a one year low of $5.58 and a one year high of $19.25. The company’s fifty day moving average is $7.71 and its two-hundred day moving average is $7.65.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Olympiad Research LP raised its stake in Beyond Meat by 5.1% in the 4th quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock valued at $272,000 after purchasing an additional 1,477 shares during the last quarter. Arizona State Retirement System raised its stake in Beyond Meat by 9.4% in the 4th quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock valued at $160,000 after purchasing an additional 1,541 shares during the last quarter. Gotham Asset Management LLC raised its stake in Beyond Meat by 5.6% in the 3rd quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock valued at $300,000 after purchasing an additional 1,646 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Beyond Meat by 117.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Beyond Meat by 5.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company’s stock valued at $567,000 after acquiring an additional 3,143 shares during the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Company Profile

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.