Beyond Meat, Inc. (NASDAQ:BYND) Receives $5.56 Consensus PT from Analysts

Beyond Meat, Inc. (NASDAQ:BYND) has been given a consensus rating of “Strong Sell” by the nine brokerages that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.56.

A number of research firms have weighed in on BYND. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. TD Cowen decreased their price target on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets lowered their price objective on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group cut their target price on shares of Beyond Meat from $4.00 to $3.50 and set a “sell” rating for the company in a report on Thursday, May 9th. Finally, Canaccord Genuity Group lowered their price target on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, May 10th.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Olympiad Research LP raised its position in shares of Beyond Meat by 5.1% during the 4th quarter. Olympiad Research LP now owns 30,592 shares of the company’s stock worth $272,000 after purchasing an additional 1,477 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Beyond Meat by 9.4% during the fourth quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock valued at $160,000 after acquiring an additional 1,541 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of Beyond Meat by 5.6% in the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock valued at $300,000 after acquiring an additional 1,646 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after acquiring an additional 1,739 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position 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 in the last quarter. 52.48% of the stock is owned by hedge funds and other institutional investors.

Beyond Meat Stock Down 0.1 %

Beyond Meat stock opened at $7.19 on Monday. The stock has a 50-day moving average price of $7.45 and a 200 day moving average price of $7.67. The company has a market capitalization of $466.52 million, a price-to-earnings ratio of -1.39 and a beta of 2.42. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The business had revenue of $75.60 million for the quarter, compared to analyst estimates of $75.24 million. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period last year, the firm posted ($0.92) EPS. Research analysts anticipate that Beyond Meat will post -2.11 EPS for the current fiscal year.

About Beyond Meat

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.