Brokerages Set Beyond Meat, Inc. (NASDAQ:BYND) Price Target at $5.36

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have earned an average recommendation of “Strong Sell” from the eight research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.36.

Several equities research analysts have recently weighed in on BYND shares. BMO Capital Markets reduced their price objective on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Mizuho reduced their price target on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a report on Monday, August 26th.

Institutional Investors Weigh In On Beyond Meat

A number of institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise raised its stake in shares of Beyond Meat by 117.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock valued at $26,000 after buying an additional 1,739 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Beyond Meat by 7.8% during the second quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock worth $245,000 after purchasing an additional 2,650 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 during the period. The Manufacturers Life Insurance Company boosted its holdings in Beyond Meat by 17.3% during the second quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock valued at $178,000 after purchasing an additional 3,902 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Beyond Meat by 30.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company’s stock valued at $183,000 after purchasing an additional 5,140 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Trading Up 3.5 %

Shares of NASDAQ:BYND opened at $6.59 on Thursday. The stock has a market capitalization of $428.61 million, a PE ratio of -1.36 and a beta of 2.26. Beyond Meat has a 1 year low of $5.13 and a 1 year high of $12.12. The firm has a fifty day moving average price of $6.26 and a 200 day moving average price of $6.73.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The firm had revenue of $93.19 million during the quarter, compared to analyst estimates of $87.81 million. During the same quarter in the previous year, the firm earned ($0.83) EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Beyond Meat will post -2.12 earnings per share for the current fiscal year.

Beyond Meat Company Profile

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.