Beyond Meat, Inc. (NASDAQ:BYND) Receives $5.36 Average PT from Brokerages

Beyond Meat, Inc. (NASDAQ:BYND) has been given an average rating of “Strong Sell” by the eight analysts that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.36.

A number of equities analysts recently issued reports on BYND shares. Mizuho lowered their price target on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday, August 26th. BMO Capital Markets reduced their price objective on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Beyond Meat

Several large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise raised its stake in shares of Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Beyond Meat by 7.8% during the second quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock worth $245,000 after purchasing an additional 2,650 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Beyond Meat by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock worth $275,000 after purchasing an additional 2,790 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Beyond Meat by 17.3% during the second quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after purchasing an additional 3,902 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Beyond Meat by 30.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company’s stock worth $183,000 after purchasing an additional 5,140 shares during the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Up 0.2 %

Shares of BYND opened at $6.61 on Thursday. The stock has a 50 day moving average price of $6.34 and a 200 day moving average price of $6.69. The company has a market capitalization of $428.89 million, a price-to-earnings ratio of -1.28 and a beta of 2.26. Beyond Meat has a 52-week low of $5.13 and a 52-week high of $12.12.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The company had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business earned ($0.83) earnings per share. On average, equities analysts anticipate that Beyond Meat will post -2.12 EPS for the current fiscal year.

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.