Beyond Meat (NASDAQ:BYND) has earned a consensus rating of “Hold” from the twenty-two analysts that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $99.27.
A number of research analysts recently weighed in on the stock. Bank of America lowered shares of Beyond Meat from a “neutral” rating to an “underperform” rating and set a $50.00 price target on the stock. in a research report on Thursday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of Beyond Meat from $134.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. Credit Suisse Group reduced their target price on shares of Beyond Meat from $125.00 to $118.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. UBS Group lifted their target price on shares of Beyond Meat from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Zacks Investment Research downgraded shares of Beyond Meat from a “buy” rating to a “hold” rating in a research note on Tuesday, March 17th.
In other news, insider Cari Soto sold 7,850 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $84.72, for a total value of $665,052.00. Following the completion of the sale, the insider now directly owns 11,339 shares in the company, valued at approximately $960,640.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Muth sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $117.68, for a total transaction of $941,440.00. Following the completion of the sale, the insider now owns 214,688 shares of the company’s stock, valued at $25,264,483.84. The disclosure for this sale can be found here. In the last three months, insiders sold 58,850 shares of company stock valued at $5,870,332.
Shares of BYND traded down $1.90 during trading hours on Monday, reaching $71.10. 7,949,740 shares of the stock traded hands, compared to its average volume of 10,274,920. The company has a current ratio of 8.46, a quick ratio of 6.75 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $95.40 and a 200 day simple moving average of $102.36. Beyond Meat has a 52 week low of $45.00 and a 52 week high of $239.71. The company has a market cap of $4.17 billion and a price-to-earnings ratio of -62.37.
Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Beyond Meat had a negative net margin of 4.18% and a positive return on equity of 1.31%. The firm had revenue of $98.50 million for the quarter, compared to the consensus estimate of $81.52 million. Beyond Meat’s quarterly revenue was up 212.7% compared to the same quarter last year. Analysts predict that Beyond Meat will post 0.26 earnings per share for the current fiscal year.
About Beyond Meat
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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