Beyond Meat, Inc. (NASDAQ:BYND) Receives $44.82 Consensus Target Price from Analysts

Beyond Meat, Inc. (NASDAQ:BYNDGet Rating) has received a consensus rating of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $44.82.

Several analysts have recently weighed in on BYND shares. UBS Group started coverage on shares of Beyond Meat in a research note on Wednesday, March 30th. They set a “neutral” rating and a $48.00 price target for the company. Mizuho cut their price objective on shares of Beyond Meat from $35.00 to $21.00 in a report on Thursday, May 12th. Piper Sandler cut their price objective on shares of Beyond Meat from $29.00 to $12.00 in a report on Thursday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of Beyond Meat from $54.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, February 25th. Finally, Zacks Investment Research lowered shares of Beyond Meat from a “hold” rating to a “sell” rating in a report on Monday.

Beyond Meat stock opened at $28.01 on Friday. The company has a 50 day moving average price of $41.78 and a 200-day moving average price of $58.21. The company has a debt-to-equity ratio of 27.60, a quick ratio of 6.27 and a current ratio of 9.08. Beyond Meat has a fifty-two week low of $20.50 and a fifty-two week high of $160.28. The company has a market capitalization of $1.78 billion, a PE ratio of -6.76 and a beta of 1.68.

Beyond Meat (NASDAQ:BYNDGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.57). Beyond Meat had a negative net margin of 54.79% and a negative return on equity of 160.55%. During the same quarter in the prior year, the company posted ($0.42) EPS. On average, analysts forecast that Beyond Meat will post -4.07 earnings per share for the current year.

In other Beyond Meat news, Director Diane Carhart sold 5,048 shares of Beyond Meat stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $43.20, for a total value of $218,073.60. Following the transaction, the director now directly owns 1,540 shares of the company’s stock, valued at $66,528. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its position in shares of Beyond Meat by 1.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,564,394 shares of the company’s stock valued at $413,745,000 after acquiring an additional 92,912 shares during the period. Vanguard Group Inc. increased its position in shares of Beyond Meat by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,046,377 shares of the company’s stock valued at $243,791,000 after acquiring an additional 51,491 shares during the period. BlackRock Inc. boosted its holdings in Beyond Meat by 10.4% in the third quarter. BlackRock Inc. now owns 2,459,588 shares of the company’s stock valued at $258,896,000 after purchasing an additional 231,029 shares during the last quarter. Spyglass Capital Management LLC raised its stake in shares of Beyond Meat by 10.1% during 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 last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Beyond Meat by 79.8% in the 1st quarter. SG Americas Securities LLC now owns 1,052,640 shares of the company’s stock valued at $50,853,000 after buying an additional 467,339 shares during the period. 67.15% of the stock is currently owned by hedge funds and other institutional investors.

About Beyond Meat (Get Rating)

Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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