J.P. Morgan Downgrades Beyond Meat (BYND) to Sell
Beyond Meat (BYND) received a Sell rating and a $122.00 price target from J.P. Morgan analyst Kenneth Goldman yesterday. The company’s shares closed last Thursday at $157.22, close to its 52-week high of $167.16.
According to TipRanks.com, Goldman is a 4-star analyst with an average return of 8.9% and a 60.9% success rate. Goldman covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Sanderson Farms, and Conagra Brands.
Beyond Meat has an analyst consensus of Hold, with a price target consensus of $126.71.
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The company has a one-year high of $167.16 and a one-year low of $48.18. Currently, Beyond Meat has an average volume of 4.91M.
Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BYND in relation to earlier this year.
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Beyond Meat, Inc. engages in the provision of plant-based meats. 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 was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.
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