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In a report released today, Cody Ross from UBS maintained a Hold rating on Beyond Meat (BYND – Research Report), with a price target of $12.00. The company’s shares opened DotBig today at $12.79.Ross covers the Consumer Goods sec… The Q3 earnings report confirmed that management was right to take aggressive action in slashing its cost base.
Its products include ready-to-cook meat under The Beyond Burger and Beyond Sausage brands, and frozen meat, namely, Beyond Chicken Strips and Beyond Beef Crumbles. That cash flow might arrive as early as late 2023, executives project. For context, the company has burned through $270 million of operating cash in the last nine months. Management’s discussion of what went wrong implies more pain ahead for the business. Consumers aren’t willing to pay higher prices for plant-based proteins as inflation pressures their budgets. People aren’t feeling adventurous in trying out new flavors and products, such as Beyond Meat Jerky, either. Discuss news and analysts’ price predictions with the investor community.
Beyond Meat Inc. stock falls Wednesday, underperforms market
Therefore, while layoffs typically hurt companies over the long haul, in Beyond’s case, it might https://dotbig.com/ help. That’s because current market conditions apparently impugn the pricing, not the product.
- BYND’s equity multiplier — a measure of assets relative to shareholders’equity — is greater than that of just 0.07% of US stocks.
- The company needs to get the cost of fake meat closer to that of the real thing.
- Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles.
- The company described collapsing demand as consumers moved away from its plant-based protein products.
- Consumers aren’t willing to pay higher prices for plant-based proteins as inflation pressures their budgets.
As half of the miss was due to co-manufacturer fees (mostly one-time fees), we largely maintain our forecast. Beyond’s shares trade at large discounts to our valuation and we suggest patient investors build positions, although https://dotbig.com/markets/stocks/BYND/ a catalyst may not materialize until economic conditions improve. Moody’s Daily Credit Risk Score is a 1-10 score of a company’s credit risk, based on an analysis of the firm’s balance sheet and inputs from the stock market.
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Despite some ugly numbers, BYND stock price popped dramatically higher, likely on hopes of a turnaround. Management declared that it’s seeking “a more sustainable growth model,” per the WSJ. To accomplish this objective, Beyond undertook several initiatives, including reducing staff to cut expenses. From broader and sector-specific perspectives, this pivot might make sense. “The current economic climate has not been kind to plant-based meat,” added Brown. BYND stock likely popped on management’s pursuit of a sustainable business model.
Below are the latest news stories about BEYOND MEAT INC that investors may wish to consider to help them evaluate BYND as an investment opportunity. In comparison to the median Consumer Defensive stock, BYND’s EV/EBIT ratio is 124.37% lower, now standing at -4.8. If you’re looking for stocks that are quantitatively similar to BEYOND MEAT INC, a group of peers worth examining would be BBBY, RGS, CHRS, THTX, and VVI. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.
– Manufactures, markets, and sells plant-based meat products in the United States and internationally.
Two of these stocks could enjoy a turnaround soon, while the other is seeing its business chugging along just fine. All investments involve risks, including the loss of principal. Securities trading offered through Robinhood Financial LLC, Member SIPC and a registered broker-dealer. Against the bigger picture, the major indices skyrocketed on Thursday on lighter-than-expected inflation. Presumably, the Federal Reserve is on track to meet its goals of controlling inflation, which would go a long way to supporting DotBig.
Beyond Meat Insider Activity
That’s why the stock doesn’t look appetizing, even after its price has dropped by over 80% in 2022. There are better growth stocks for investors to own, with clear market-share strength and solid profitability. But investors have no visibility into that stabilization right now, and losses will likely continue well into 2023. And it isn’t clear whether consumer preferences will shift back to food stock price of Beyond Meat Incorporated products like plant-based burgers, sausages, and chicken products. Management already announced a 19% cut in its global workforce. In this report, it outlined even more aggressive steps to rightsize the business. "Beyond Meat is executing a full force pivot to a sustainable growth model, emphasizing the achievement of cash flow positive operations," CEO Ethan Brown said in a press release.
Beyond Meat is a provider of plant-based meats, such as burgers, sausage, ground beef, and chicken. Unlike other vegetarian products, Beyond Meat seeks to replicate the look, cook, and taste of meat, is targeted to omnivores and vegetarians alike, and is sold in the meat case. The products are widely available across the U.S. and Canada and in 83 additional countries as well. The firm’s products are available in retail stores and the food-service channel. In 2019, before the pandemic struck, sales were evenly split between these two channels, although mix stood at 70% retail/30% food service in 2021. We think the recovery from the crisis and new deals with McDonald’s and Yum Brands will return food-service sales to 50% in time.
In addition, research reveals that young people gravitate toward plant-based food options. Per the Wall Street Journal, the fundamental narrative for BYND stock ran all over the map. “Beyond said its U.S. grocery sales declined 12% while sales to restaurants and other institutions increased 6% versus the year-ago period.
Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use, please see disclaimer. Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. The strongest trend for BYND is in Stability, which has been heading up over the past 179 days. Momentum is the dimension where BYND ranks best; there it ranks ahead of 52.28% of US stocks. We have 9 different ratings for every stock to help you appreciate its future potential.
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