Beyond Meat (NASDAQ:BYND) Coverage Initiated at Berenberg Bank

Berenberg Bank began coverage on shares of Beyond Meat (NASDAQ:BYND) in a research note published on Thursday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $100.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. set a $138.00 price target on Beyond Meat and gave the stock a buy rating in a research report on Tuesday, October 29th. Cfra raised Beyond Meat from a sell rating to a hold rating in a research report on Tuesday, October 29th. Bank of America lowered their price target on Beyond Meat from $150.00 to $122.00 and set a neutral rating for the company in a research report on Tuesday, October 29th. BNP Paribas initiated coverage on Beyond Meat in a research report on Monday, September 23rd. They issued an underperform rating for the company. Finally, Exane BNP Paribas initiated coverage on Beyond Meat in a research report on Monday, September 23rd. They issued an underperform rating for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $117.74.

Shares of BYND traded down $1.09 during trading hours on Thursday, hitting $79.72. The company had a trading volume of 2,936,000 shares, compared to its average volume of 6,367,526. The company’s fifty day moving average is $108.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.46 and a quick ratio of 7.90. Beyond Meat has a 52-week low of $45.00 and a 52-week high of $239.71.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $91.96 million during the quarter, compared to analyst estimates of $83.35 million. Beyond Meat had a negative return on equity of 5.92% and a negative net margin of 8.42%. The company’s quarterly revenue was up 250.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Beyond Meat will post -0.2 EPS for the current year.

In related news, Director Christopher Isaac Stone sold 20,000 shares of Beyond Meat stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $78.51, for a total value of $1,570,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lengerich Bernhard Van sold 133,147 shares of Beyond Meat stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $79.95, for a total value of $10,645,102.65. Insiders sold a total of 263,147 shares of company stock valued at $21,071,303 over the last quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in Beyond Meat in the 2nd quarter worth about $169,339,000. Blackstone Group Inc bought a new stake in Beyond Meat in the 2nd quarter worth about $161,317,000. BlackRock Inc. bought a new stake in Beyond Meat in the 2nd quarter worth about $68,864,000. Jefferies Group LLC bought a new stake in shares of Beyond Meat during the 2nd quarter valued at about $24,102,000. Finally, OZ Management LP bought a new stake in shares of Beyond Meat during the 2nd quarter valued at about $11,858,000. Institutional investors own 9.74% of the company’s stock.

About Beyond Meat

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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