Beyond Meat (BYND) – Analysts’ Weekly Ratings Updates

Posted by on May 25th, 2022

A number of research firms have changed their ratings and price targets for Beyond Meat (NASDAQ: BYND):

  • 5/16/2022 – Beyond Meat was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Beyond Meat Inc. is a food company. It manufactures, markets and sells plant-based meat products primarily 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. Beyond Meat Inc. is based in El Segundo, California. “
  • 5/12/2022 – Beyond Meat was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $25.00 price target on the stock, down previously from $80.00.
  • 5/12/2022 – Beyond Meat had its price target lowered by analysts at Cowen Inc. from $42.00 to $26.00.
  • 5/12/2022 – Beyond Meat had its price target lowered by analysts at BMO Capital Markets from $60.00 to $30.00.
  • 5/12/2022 – Beyond Meat had its price target lowered by analysts at Cowen Inc from $42.00 to $26.00.
  • 5/12/2022 – Beyond Meat had its price target lowered by analysts at Mizuho from $35.00 to $21.00.
  • 5/12/2022 – Beyond Meat had its price target lowered by analysts at Piper Sandler from $29.00 to $12.00.
  • 5/3/2022 – Beyond Meat had its price target lowered by analysts at Mizuho from $45.00 to $35.00.
  • 4/26/2022 – Beyond Meat was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Beyond Meat Inc. is a food company. It manufactures, markets and sells plant-based meat products primarily 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. Beyond Meat Inc. is based in El Segundo, California. “
  • 3/30/2022 – Beyond Meat is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $48.00 price target on the stock.
  • 3/28/2022 – Beyond Meat was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating. They now have a $29.00 price target on the stock, down previously from $50.00.

Shares of NASDAQ BYND traded up $3.04 during trading hours on Wednesday, reaching $25.98. The stock had a trading volume of 3,687,175 shares, compared to its average volume of 3,929,939. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -6.45 and a beta of 1.68. The company has a current ratio of 9.08, a quick ratio of 6.27 and a debt-to-equity ratio of 27.60. Beyond Meat, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $160.28. The firm has a 50-day moving average of $39.90 and a 200-day moving average of $55.32.

Beyond Meat (NASDAQ:BYND – Get Rating) last announced its earnings results on Wednesday, May 11th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.57). Beyond Meat had a negative net margin of 54.79% and a negative return on equity of 160.55%. During the same period last year, the firm earned ($0.42) earnings per share. On average, equities analysts predict that Beyond Meat, Inc. will post -4.55 EPS for the current year.

In other news, Director Diane Carhart sold 5,048 shares of the stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $43.20, for a total transaction of $218,073.60. Following the completion of the transaction, the director now directly owns 1,540 shares of the company’s stock, valued at approximately $66,528. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 7.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Beyond Meat in the fourth quarter valued at about $38,257,000. Morgan Stanley increased its position in shares of Beyond Meat by 126.8% during the third quarter. Morgan Stanley now owns 967,736 shares of the company’s stock worth $101,866,000 after acquiring an additional 541,118 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Beyond Meat by 1,043.1% during the fourth quarter. SG Americas Securities LLC now owns 585,301 shares of the company’s stock worth $38,138,000 after acquiring an additional 534,099 shares during the last quarter. Coatue Management LLC purchased a new stake in shares of Beyond Meat during the first quarter worth about $24,363,000. Finally, BlackRock Inc. increased its position in shares of Beyond Meat by 10.4% during the third quarter. BlackRock Inc. now owns 2,459,588 shares of the company’s stock worth $258,896,000 after acquiring an additional 231,029 shares during the last quarter. 67.15% of the stock is owned by institutional investors.

Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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