Beyond Meat, Inc. (NASDAQ:BYND) Receives $4.92 Average Price Target from Analysts

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have received an average recommendation of “Strong Sell” from the six ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $4.92.

A number of analysts recently weighed in on BYND shares. Barclays reduced their target price on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. BMO Capital Markets reduced their price objective on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th.

Beyond Meat Price Performance

BYND opened at $3.24 on Monday. The business has a 50 day moving average price of $3.71 and a two-hundred day moving average price of $4.75. The company has a market capitalization of $246.66 million, a price-to-earnings ratio of -0.78 and a beta of 2.36. Beyond Meat has a 1-year low of $2.86 and a 1-year high of $10.31.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.21). The business had revenue of $76.66 million for the quarter, compared to the consensus estimate of $76.08 million. Equities analysts expect that Beyond Meat will post -2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Beyond Meat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BYND. Intech Investment Management LLC acquired a new stake in Beyond Meat during the 3rd quarter valued at $128,000. Charles Schwab Investment Management Inc. raised its position in Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock valued at $3,545,000 after buying an additional 7,332 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Beyond Meat by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock worth $257,000 after acquiring an additional 5,419 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Beyond Meat during the 4th quarter worth about $39,000. Finally, Zweig DiMenna Associates LLC purchased a new position in Beyond Meat during the 4th quarter valued at about $1,746,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

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.