Beyond Meat, Inc. (NASDAQ:BYND) Receives Consensus Recommendation of “Hold” from Brokerages


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Beyond Meat, Inc. (NASDAQ:BYND) has received a consensus recommendation of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $118.13.

Several analysts have recently commented on BYND shares. The Goldman Sachs Group increased their target price on shares of Beyond Meat from $105.00 to $112.00 and gave the company a “sell” rating in a report on Thursday, March 4th. Citigroup upgraded shares of Beyond Meat from a “neutral” rating to a “buy” rating in a report on Monday, March 8th. BTIG Research downgraded shares of Beyond Meat from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 20th. UBS Group raised their price objective on shares of Beyond Meat from $107.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 26th. Finally, Oppenheimer restated a “hold” rating on shares of Beyond Meat in a research report on Monday, February 22nd.

NASDAQ BYND traded down $1.57 during trading on Tuesday, reaching $124.83. The company’s stock had a trading volume of 186,148 shares, compared to its average volume of 3,772,643. The company has a current ratio of 8.56, a quick ratio of 5.66 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of -277.40 and a beta of 1.96. Beyond Meat has a 12 month low of $88.51 and a 12 month high of $221.00. The firm has a 50 day moving average price of $133.70 and a 200 day moving average price of $143.63.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, February 24th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.21). Beyond Meat had a negative return on equity of 4.49% and a negative net margin of 6.97%. The firm had revenue of $101.94 million for the quarter, compared to the consensus estimate of $101.48 million. During the same period last year, the company posted ($0.01) EPS. On average, equities analysts forecast that Beyond Meat will post -0.39 EPS for the current fiscal year.

In related news, insider Charles Muth sold 10,000 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $168.18, for a total value of $1,681,800.00. Following the transaction, the insider now owns 56,175 shares in the company, valued at approximately $9,447,511.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sanjay C. Shah sold 4,570 shares of the company’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $140.82, for a total transaction of $643,547.40. Following the completion of the transaction, the chief operating officer now owns 37,295 shares in the company, valued at approximately $5,251,881.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,570 shares of company stock worth $3,702,647. 11.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in BYND. Townsquare Capital LLC bought a new position in Beyond Meat in the 3rd quarter worth about $202,000. Sei Investments Co. lifted its stake in Beyond Meat by 27.6% during the 3rd quarter. Sei Investments Co. now owns 27,021 shares of the company’s stock valued at $4,492,000 after acquiring an additional 5,848 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in Beyond Meat by 17.1% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,166 shares of the company’s stock valued at $360,000 after acquiring an additional 317 shares during the period. Strs Ohio bought a new position in Beyond Meat during the 3rd quarter valued at about $644,000. Finally, Global Retirement Partners LLC lifted its stake in Beyond Meat by 81.5% during the 4th quarter. Global Retirement Partners LLC now owns 372 shares of the company’s stock valued at $47,000 after acquiring an additional 167 shares during the period. Institutional investors own 42.09% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. It operates under the Beyond Meat, Beyond Burger, Beyond Beef, Beyond Sausage, Beyond Breakfast Sausage, Beyond Chicken, Beyond Fried Chicken, Beyond Meatball, the Caped Steer Logo, Go Beyond, Eat What You Love, The Cookout Classic, The Future of Protein, and The Future of Protein Beyond Meat and design trademarks.

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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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