Beyond Meat, Inc. (NASDAQ:BYND) Receives Consensus Recommendation of "Strong Sell" from Analysts

Key Points

• Analysts have assigned Beyond Meat a consensus rating of "Strong Sell" (seven sell, two hold) with an average 12‑month price target of about $1.70.
• Several brokers have cut targets and ratings recently — e.g., Barclays to $1.00 (underweight) and TD Cowen to $0.80 (sell) — signaling deteriorating analyst sentiment.
• Beyond Meat missed EPS for the last quarter (($0.47) vs. ($0.39) expected), trades near $1.10 with a market cap around $499M, and carries a negative outlook for the fiscal year (consensus ~ -2.1 EPS).

Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) has been assigned a consensus rating of "Strong Sell" from the nine brokerages that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $1.70.

Several analysts have weighed in on BYND shares. Barclays dropped their price objective on Beyond Meat from $2.00 to $1.00 and set an "underweight" rating for the company in a report on Wednesday, November 12th. Argus cut shares of Beyond Meat from a "hold" rating to a "sell" rating in a research report on Monday, September 15th. TD Cowen cut their price objective on shares of Beyond Meat from $2.00 to $0.80 and set a "sell" rating on the stock in a report on Tuesday, October 14th. BTIG Research reaffirmed a "neutral" rating on shares of Beyond Meat in a research note on Friday, October 24th. Finally, Cowen reiterated a "sell" rating on shares of Beyond Meat in a research report on Tuesday, October 14th.

Hedge Funds Weigh In On Beyond Meat

Several institutional investors have recently modified their holdings of the stock. Banco Santander S.A. acquired a new stake in shares of Beyond Meat in the 3rd quarter valued at approximately $25,000. Savant Capital LLC bought a new stake in Beyond Meat in the third quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its holdings in Beyond Meat by 400.2% in the third quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company's stock worth $28,000 after purchasing an additional 11,830 shares during the period. Pitcairn Co. acquired a new stake in Beyond Meat in the second quarter worth $37,000. Finally, Chiron Capital Management LLC bought a new position in shares of Beyond Meat during the first quarter worth $38,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $1.10 on Wednesday. The stock's fifty day moving average price is $1.37 and its two-hundred day moving average price is $2.43. The company has a market cap of $498.93 million, a price-to-earnings ratio of -0.34 and a beta of 2.51. Beyond Meat has a 52-week low of $0.50 and a 52-week high of $7.69.

Beyond Meat (NASDAQ:BYND - Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.08). The firm had revenue of $70.22 million during the quarter, compared to the consensus estimate of $68.82 million. On average, equities analysts predict that Beyond Meat will post -2.1 EPS for the current fiscal year.

About Beyond Meat

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.

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