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Beyond Meat (NASDAQ:BYND) Price Target Cut to $5.00 by Analysts at Barclays

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Key Points

  • Barclays cut its Beyond Meat price target in half, to $5 from $10, and maintained an “underweight” rating, implying about 15% downside from the prior close.
  • Beyond Meat reported a quarterly loss of $2.21 per share, worse than analysts’ $1.97 estimate, while revenue of $64.5 million topped expectations. Its fourth-quarter revenue outlook was below analysts’ forecasts.
  • Analyst sentiment remains bearish: MarketBeat lists a “Strong Sell” consensus, with three Sell ratings and two Hold ratings. Shares traded at $5.88, close to their 52-week low of $5.81.
  • Five stocks we like better than Beyond Meat.

Beyond Meat (NASDAQ:BYND - Get Free Report) had its target price dropped by Barclays from $10.00 to $5.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's target price would suggest a potential downside of 14.98% from the company's previous close.

BYND has been the topic of several other research reports. Wall Street Zen upgraded shares of Beyond Meat from a "strong sell" rating to a "sell" rating in a research note on Sunday, September 13th. Weiss Ratings restated a "sell (d)" rating on shares of Beyond Meat in a research report on Friday, October 2nd. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Strong Sell" and an average price target of $21.67.

Read Our Latest Research Report on Beyond Meat

Beyond Meat Price Performance

BYND stock traded down $1.27 during trading on Thursday, reaching $5.88. The company's stock had a trading volume of 1,544,274 shares, compared to its average volume of 1,463,697. The company has a quick ratio of 2.07, a current ratio of 2.63 and a debt-to-equity ratio of 6.57. The company's fifty day moving average is $9.16 and its 200-day moving average is $18.39. The company has a market capitalization of $101.09 million, a P/E ratio of -0.11 and a beta of 2.93. Beyond Meat has a 1 year low of $5.81 and a 1 year high of $46.80.

Beyond Meat (NASDAQ:BYND - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($2.21) earnings per share for the quarter, missing analysts' consensus estimates of ($1.97) by ($0.24). The business had revenue of $64.53 million during the quarter, compared to the consensus estimate of $62.00 million. Beyond Meat had a negative return on equity of 100.55% and a net margin of 75.40%. On average, research analysts expect that Beyond Meat will post -13.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Beyond Meat in the second quarter valued at $6,753,000. Squarepoint Ops LLC purchased a new position in shares of Beyond Meat during the 2nd quarter worth about $1,550,000. Ieq Capital LLC purchased a new position in shares of Beyond Meat during the 2nd quarter worth about $933,000. Bank of New York Mellon Corp grew its holdings in Beyond Meat by 7.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company's stock valued at $711,000 after purchasing an additional 70,513 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Beyond Meat during the 2nd quarter valued at about $511,000. Institutional investors own 52.48% of the company's stock.

More Beyond Meat News

Here are the key news stories impacting Beyond Meat this week:

Beyond Meat Company Profile

(Get Free Report)

Beyond Meat, Inc develops, manufactures and markets plant-based meat products designed to replicate the taste, texture and nutritional characteristics of animal-based meat. Its product portfolio has included plant-based beef, chicken and sausage alternatives, such as burgers, ground meat, breakfast sausage and breaded chicken products.

The company sells its products through grocery and retail outlets, restaurants, foodservice distributors and other commercial channels. Beyond Meat has served customers in the United States and international markets, with products available in various countries across North America, Europe and Asia-Pacific through retail and foodservice partnerships.

Founded in 2009 by Ethan Brown, Beyond Meat is headquartered in El Segundo, California.

See Also

Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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