Beyond Meat (NASDAQ:BYND) was upgraded by equities research analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.
Several other equities research analysts also recently commented on BYND. Barclays lowered their price objective on shares of Beyond Meat from $90.00 to $80.00 and set an “underweight” rating for the company in a research note on Monday, October 25th. Argus downgraded shares of Beyond Meat from a “buy” rating to a “hold” rating in a research note on Wednesday, August 25th. Credit Suisse Group lowered their price objective on shares of Beyond Meat from $75.00 to $60.00 and set an “underperform” rating for the company in a research note on Thursday, November 11th. Canaccord Genuity lowered their price objective on shares of Beyond Meat from $100.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, November 11th. Finally, Cowen decreased their target price on shares of Beyond Meat from $101.00 to $79.00 and set a “market perform” rating for the company in a research report on Monday, November 15th. Eight analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $97.13.
NASDAQ BYND traded down $1.17 on Monday, hitting $63.34. The stock had a trading volume of 120,432 shares, compared to its average volume of 3,386,710. The business’s fifty day moving average price is $89.58 and its 200 day moving average price is $115.35. The company has a debt-to-equity ratio of 5.45, a current ratio of 15.52 and a quick ratio of 12.92. Beyond Meat has a 52-week low of $63.09 and a 52-week high of $221.00. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of -31.51 and a beta of 1.61.
Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%. During the same quarter in the previous year, the business earned ($0.28) earnings per share. As a group, sell-side analysts anticipate that Beyond Meat will post -2.31 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in shares of Beyond Meat by 2.1% during the third quarter. Baillie Gifford & Co. now owns 8,559,271 shares of the company’s stock worth $900,948,000 after purchasing an additional 174,778 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Beyond Meat by 13.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,456,953 shares of the company’s stock valued at $701,926,000 after buying an additional 519,411 shares during the period. BlackRock Inc. grew its stake in shares of Beyond Meat by 10.4% in the 3rd quarter. BlackRock Inc. now owns 2,459,588 shares of the company’s stock valued at $258,896,000 after buying an additional 231,029 shares during the period. Spyglass Capital Management LLC grew its stake in shares of Beyond Meat by 10.1% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,012,830 shares of the company’s stock valued at $211,870,000 after buying an additional 185,045 shares during the period. Finally, Morgan Stanley grew its stake in shares of Beyond Meat by 126.8% in the 3rd quarter. Morgan Stanley now owns 967,736 shares of the company’s stock valued at $101,866,000 after buying an additional 541,118 shares during the period. 51.70% of the stock is owned by institutional investors and hedge funds.
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.