Beyond Meat (NASDAQ:BYND) Now Covered by Cfra

Cfra began coverage on shares of Beyond Meat (NASDAQ:BYND) in a report released on Friday, TipRanks reports. The firm set a “sell” rating and a $120.00 price target on the stock. Cfra’s price target would suggest a potential upside of 9.10% from the stock’s previous close.

A number of other research firms also recently issued reports on BYND. Wells Fargo & Co assumed coverage on shares of Beyond Meat in a research note on Monday, October 14th. They set a “market perform” rating and a $125.00 price target on the stock. They noted that the move was a valuation call. Exane BNP Paribas assumed coverage on shares of Beyond Meat in a research note on Monday, September 23rd. They issued an “underperform” rating on the stock. Bank of America reduced their target price on shares of Beyond Meat from $182.00 to $150.00 and set a “neutral” rating on the stock in a research note on Thursday. BNP Paribas assumed coverage on shares of Beyond Meat in a research note on Monday, September 23rd. They issued an “underperform” rating on the stock. Finally, Sanford C. Bernstein reduced their target price on shares of Beyond Meat from $172.00 to $130.00 and set a “market perform” rating on the stock in a research note on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $134.36.

Beyond Meat stock traded down $7.36 during mid-day trading on Friday, reaching $109.99. 3,652,800 shares of the company’s stock traded hands, compared to its average volume of 2,182,398. The firm’s 50 day moving average price is $148.25. The company has a quick ratio of 7.90, a current ratio of 8.95 and a debt-to-equity ratio of 0.07. Beyond Meat has a 12-month low of $45.00 and a 12-month high of $239.71.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The business had revenue of $67.25 million for the quarter, compared to analysts’ expectations of $50.94 million. On average, equities research analysts anticipate that Beyond Meat will post -0.22 earnings per share for the current fiscal year.

In other news, Director Diane Carhart sold 9,069 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $1,451,040.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $154.00, for a total transaction of $111,474,748.00. The disclosure for this sale can be found here. In the last three months, insiders sold 821,957 shares of company stock worth $127,169,948.

A number of hedge funds have recently bought and sold shares of BYND. Valeo Financial Advisors LLC purchased a new position in Beyond Meat in the 3rd quarter worth about $30,000. Rocky Mountain Advisers LLC purchased a new position in Beyond Meat in the 2nd quarter worth about $32,000. Sandy Spring Bank purchased a new position in Beyond Meat in the 2nd quarter worth about $32,000. Sterling Investment Advisors Ltd. purchased a new position in Beyond Meat in the 2nd quarter worth about $32,000. Finally, Golden State Wealth Management LLC purchased a new position in Beyond Meat in the 2nd quarter worth about $40,000. 9.45% of the stock is currently owned by 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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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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