Beyond Meat (NASDAQ:BYND) Price Target Cut to $6.00

Beyond Meat (NASDAQ:BYND) had its target price decreased by analysts at TD Cowen from $10.00 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. TD Cowen’s price target would indicate a potential downside of 6.25% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Argus raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. BMO Capital Markets upped their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Finally, Mizuho upped their target price on shares of Beyond Meat from $5.00 to $7.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $6.00.

Beyond Meat Trading Down 0.5 %

Shares of BYND stock opened at $6.40 on Wednesday. The stock has a market capitalization of $413.95 million, a P/E ratio of -1.22 and a beta of 2.41. The firm’s 50 day moving average is $7.74 and its 200 day moving average is $7.71. Beyond Meat has a 12 month low of $5.58 and a 12 month high of $19.25.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The company had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.05) EPS. On average, equities analysts predict that Beyond Meat will post -2.46 EPS for the current year.

Hedge Funds Weigh In On Beyond Meat

A number of institutional investors have recently made changes to their positions in the stock. Ensign Peak Advisors Inc increased its holdings in shares of Beyond Meat by 1.9% in the 1st quarter. Ensign Peak Advisors Inc now owns 19,988 shares of the company’s stock worth $966,000 after buying an additional 372 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Beyond Meat by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 4,355 shares of the company’s stock valued at $210,000 after purchasing an additional 493 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Beyond Meat by 48.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after purchasing an additional 571 shares during the last quarter. US Bancorp DE grew its holdings in shares of Beyond Meat by 12.5% during the 1st quarter. US Bancorp DE now owns 5,137 shares of the company’s stock valued at $248,000 after purchasing an additional 571 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Beyond Meat by 2.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,187 shares of the company’s stock valued at $310,000 after purchasing an additional 672 shares during the last quarter. Institutional investors 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.