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

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been assigned a consensus recommendation of “Hold” from the twenty-one brokerages that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $92.19.

Several brokerages have recently weighed in on BYND. Piper Sandler raised Beyond Meat from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $61.00 to $64.00 in a research report on Monday, December 13th. Citigroup cut their target price on Beyond Meat from $70.00 to $55.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 5th. Barclays cut their price target on Beyond Meat from $90.00 to $80.00 and set an “underweight” rating on the stock in a research report on Monday, October 25th. Cowen cut their price target on Beyond Meat from $101.00 to $79.00 and set a “market perform” rating on the stock in a research report on Monday, November 15th. Finally, cut their price target on Beyond Meat from $100.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, November 11th.

BYND stock traded down $6.04 during mid-day trading on Friday, reaching $64.79. The company had a trading volume of 178,989 shares, compared to its average volume of 3,955,388. The company has a debt-to-equity ratio of 5.45, a quick ratio of 12.92 and a current ratio of 15.52. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -33.42 and a beta of 1.57. The firm has a fifty day simple moving average of $72.57 and a 200 day simple moving average of $102.40. Beyond Meat has a fifty-two week low of $58.00 and a fifty-two week high of $221.00.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Wednesday, November 10th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.48). Beyond Meat had a negative return on equity of 44.64% and a negative net margin of 27.22%. The business had revenue of $106.43 million for the quarter, compared to analyst estimates of $106.13 million. During the same period last year, the business posted ($0.28) EPS. As a group, analysts predict that Beyond Meat will post -2.31 earnings per share for the current year.

In other Beyond Meat news, insider Teri L. Witteman sold 7,880 shares of the company’s stock in a transaction that occurred on Friday, December 10th. The stock was sold at an average price of $64.26, for a total transaction of $506,368.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BYND. Rhumbline Advisers boosted its stake in Beyond Meat by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 54,291 shares of the company’s stock valued at $8,550,000 after purchasing an additional 389 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Beyond Meat by 6.8% during the second quarter. PNC Financial Services Group Inc. now owns 11,611 shares of the company’s stock worth $1,828,000 after acquiring an additional 743 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Beyond Meat by 49.5% during the second quarter. Sei Investments Co. now owns 4,491 shares of the company’s stock worth $728,000 after acquiring an additional 1,487 shares in the last quarter. Level Four Advisory Services LLC bought a new position in Beyond Meat during the second quarter valued at about $213,000. Finally, Centaurus Financial Inc. bought a new position in Beyond Meat during the second quarter valued at about $103,000. Hedge funds and other institutional investors own 59.04% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.

Further Reading: Outperform Rating

Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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