Oppenheimer started coverage on shares of Beyond Meat (NASDAQ:BYND) in a research report sent to investors on Thursday morning, Stock Target Advisor reports. The brokerage issued a hold rating on the stock.
BYND has been the topic of a number of other reports. ValuEngine upgraded shares of Beyond Meat from a hold rating to a buy rating in a research note on Monday, July 20th. Credit Suisse Group lifted their price objective on Beyond Meat from $90.00 to $142.00 and gave the stock a neutral rating in a research note on Wednesday, June 17th. Sanford C. Bernstein boosted their price objective on Beyond Meat from $118.00 to $133.00 and gave the stock a positive rating in a research report on Thursday, July 9th. Barclays lowered Beyond Meat from an overweight rating to an underweight rating and set a $115.00 target price on the stock. in a report on Monday, June 29th. Finally, Bank of America upped their price target on Beyond Meat from $58.00 to $68.00 and gave the stock an underperform rating in a report on Wednesday, May 6th. Ten analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $106.40.
BYND opened at $125.90 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.10 and a current ratio of 5.78. The company has a market cap of $7.84 billion, a PE ratio of 1,398.89 and a beta of 3.01. The stock has a 50-day moving average of $139.01 and a 200-day moving average of $112.62. Beyond Meat has a 52-week low of $48.18 and a 52-week high of $207.00.
Beyond Meat (NASDAQ:BYND) last posted its earnings results on Tuesday, May 5th. The company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. Beyond Meat had a positive return on equity of 1.61% and a negative net margin of 1.12%. The firm had revenue of $97.10 million during the quarter, compared to analyst estimates of $87.10 million. During the same period in the previous year, the company earned ($0.14) EPS. The company’s revenue for the quarter was up 141.5% on a year-over-year basis. On average, research analysts predict that Beyond Meat will post 0.07 earnings per share for the current year.
In other Beyond Meat news, Director Christopher Isaac Stone sold 15,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $139.67, for a total value of $2,095,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Joseph Nelson sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $131.33, for a total value of $6,566,500.00. Following the transaction, the chief financial officer now owns 245,993 shares in the company, valued at approximately $32,306,260.69. The disclosure for this sale can be found here. Insiders sold 267,922 shares of company stock worth $35,705,520 over the last 90 days. 11.00% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Lincoln National Corp bought a new position in Beyond Meat during the 2nd quarter worth about $245,000. Fox Run Management L.L.C. bought a new stake in shares of Beyond Meat in the second quarter valued at about $251,000. Flagship Harbor Advisors LLC boosted its position in shares of Beyond Meat by 11.7% during the second quarter. Flagship Harbor Advisors LLC now owns 1,284 shares of the company’s stock worth $172,000 after buying an additional 134 shares during the period. Avitas Wealth Management LLC bought a new position in shares of Beyond Meat during the second quarter worth about $351,000. Finally, M&T Bank Corp acquired a new stake in Beyond Meat in the 2nd quarter valued at approximately $203,000. Institutional investors and hedge funds own 27.78% of the company’s stock.
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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