Equities research analysts at DA Davidson started coverage on shares of Beyond Meat (NASDAQ:BYND) in a research note issued to investors on Thursday, September 5th, Marketbeat reports. The firm set an “underperform” rating and a $130.00 price target on the stock. DA Davidson’s target price points to a potential downside of 16.82% from the stock’s previous close.
Several other analysts have also recently issued reports on the company. Credit Suisse Group upped their price objective on Beyond Meat from $70.00 to $125.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Goldman Sachs Group assumed coverage on Beyond Meat in a research note on Monday, May 27th. They issued a “neutral” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. upgraded Beyond Meat from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $188.00 to $189.00 in a research note on Tuesday, August 20th. Sanford C. Bernstein lowered Beyond Meat from an “outperform” rating to a “market perform” rating and set a $123.00 target price on the stock. in a report on Wednesday, June 12th. They noted that the move was a valuation call. Finally, Consumer Edge assumed coverage on Beyond Meat in a report on Monday, May 20th. They set an “equal weight” rating and a $89.35 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $134.15.
Shares of Beyond Meat stock traded up $3.32 during trading hours on Thursday, reaching $156.28. 25,993 shares of the stock traded hands, compared to its average volume of 3,635,347. The business’s 50 day moving average is $168.52. Beyond Meat has a one year low of $45.00 and a one year high of $239.71. The company has a quick ratio of 7.90, a current ratio of 8.95 and a debt-to-equity ratio of 0.07.
Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $67.25 million for the quarter, compared to the consensus estimate of $50.94 million. Research analysts anticipate that Beyond Meat will post -0.24 EPS for the current fiscal year.
In other news, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of Beyond Meat stock in a transaction on Monday, August 5th. The stock was sold at an average price of $154.00, for a total value of $111,474,748.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane Carhart sold 9,069 shares of Beyond Meat stock in a transaction on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $1,451,040.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 821,957 shares of company stock worth $127,169,948.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in Beyond Meat during the 2nd quarter worth $169,339,000. Blackstone Group Inc purchased a new position in shares of Beyond Meat during the 2nd quarter worth approximately $161,317,000. BlackRock Inc. purchased a new position in shares of Beyond Meat during the 2nd quarter worth approximately $68,864,000. Jefferies Group LLC purchased a new position in shares of Beyond Meat during the 2nd quarter worth approximately $24,102,000. Finally, OZ Management LP purchased a new position in shares of Beyond Meat during the 2nd quarter worth approximately $11,858,000. 9.44% of the stock is owned by institutional investors and hedge funds.
Beyond Meat Company Profile
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products 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.
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