Barclays assumed coverage on shares of Beyond Meat (NASDAQ:BYND) in a research report sent to investors on Thursday, September 19th, BenzingaRatingsTable reports. The firm issued an overweight rating and a $185.00 target price on the stock.
A number of other analysts also recently issued reports on BYND. Jefferies Financial Group raised their price target on Beyond Meat from $85.00 to $105.00 and gave the stock a hold rating in a research report on Friday, June 7th. They noted that the move was a valuation call. DA Davidson initiated coverage on Beyond Meat in a research report on Thursday, September 5th. They set an underperform rating and a $130.00 target price for the company. Bank of America lifted their target price on Beyond Meat from $170.00 to $182.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Credit Suisse Group lifted their target price on Beyond Meat from $70.00 to $125.00 and gave the stock a neutral rating in a research report on Tuesday, July 9th. Finally, Zacks Investment Research upgraded Beyond Meat from a hold rating to a buy rating and set a $197.00 price target on the stock in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $139.24.
Shares of NASDAQ BYND traded down $4.61 during midday trading on Thursday, reaching $131.39. 2,180,120 shares of the stock traded hands, compared to its average volume of 2,057,626. The stock has a 50 day moving average of $152.26. Beyond Meat has a one year low of $45.00 and a one year high of $239.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.90 and a current ratio of 8.95.
Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $67.25 million during the quarter, compared to the consensus estimate of $50.94 million. As a group, equities analysts predict that Beyond Meat will post -0.22 EPS for the current fiscal year.
In other Beyond Meat news, CFO Mark Joseph Nelson sold 64,452 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $10,312,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Muth sold 24,574 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $3,931,840.00. The disclosure for this sale can be found here. Insiders sold 821,957 shares of company stock worth $127,169,948 in the last quarter.
Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Beyond Meat in the second quarter valued at approximately $11,412,000. Commonwealth Equity Services LLC acquired a new position in Beyond Meat in the second quarter valued at approximately $1,057,000. Advisor Group Inc. acquired a new position in Beyond Meat in the second quarter valued at approximately $362,000. Flagship Harbor Advisors LLC acquired a new position in Beyond Meat in the second quarter valued at approximately $64,000. Finally, Atika Capital Management LLC acquired a new position in Beyond Meat in the second quarter valued at approximately $11,408,000. 9.44% of the stock is owned by hedge funds and other institutional investors.
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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