Beyond Meat (NASDAQ:BYND) PT Lowered to $6.00 at TD Cowen

Beyond Meat (NASDAQ:BYND) had its price objective lowered by TD Cowen from $10.00 to $6.00 in a research report report published on Wednesday morning, Benzinga reports. TD Cowen currently has a sell rating on the stock.

Several other research analysts have also commented on the company. Argus raised Beyond Meat from a sell rating to a hold rating in a research report on Thursday, February 29th. BMO Capital Markets raised their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a market perform rating in a research report on Wednesday, February 28th. Finally, Mizuho raised their price objective on Beyond Meat from $5.00 to $7.00 and gave the company an underperform rating in a research report on Thursday, February 29th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, Beyond Meat has an average rating of Reduce and an average target price of $6.00.

Beyond Meat Trading Up 0.2 %

Shares of BYND opened at $6.41 on Wednesday. The firm has a market capitalization of $414.60 million, a P/E ratio of -1.22 and a beta of 2.41. The stock’s fifty day simple moving average is $7.73 and its 200 day simple moving average is $7.69. Beyond Meat has a twelve month low of $5.58 and a twelve month high of $19.25.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The company had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.05) earnings per share. Sell-side analysts predict that Beyond Meat will post -2.46 earnings per share for the current year.

Institutional Trading of Beyond Meat

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ensign Peak Advisors Inc increased its position in shares of Beyond Meat by 1.9% during the first quarter. Ensign Peak Advisors Inc now owns 19,988 shares of the company’s stock worth $966,000 after acquiring an additional 372 shares during the last quarter. Cetera Investment Advisers increased its holdings in Beyond Meat by 12.8% in the first quarter. Cetera Investment Advisers now owns 4,355 shares of the company’s stock valued at $210,000 after buying an additional 493 shares during the last quarter. Captrust Financial Advisors increased its holdings in Beyond Meat by 48.6% in the second quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after buying an additional 571 shares during the last quarter. US Bancorp DE increased its holdings in Beyond Meat by 12.5% in the first quarter. US Bancorp DE now owns 5,137 shares of the company’s stock valued at $248,000 after buying an additional 571 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Beyond Meat by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,187 shares of the company’s stock valued at $310,000 after buying an additional 672 shares during the last quarter. 52.48% of the stock is owned by hedge funds and other institutional investors.

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.