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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Analysts Downgrade Beyond Meat, Inc.

05/05/2022

Piper Sandler recently downgraded Beyond Meat, Inc. (BYND) to neutral from underweight.  Other analysts ranged in their estimates from hold to sell.  The 12-month consensus target price for BYND is $48.13 with a May 2nd close at $38.33.

 

The YTD share price is 44 percent down from a high of $63.33 on January 12th. BYND peaked at $196.51 on July 1st, 2019, amid the unjustified exuberance over plant-based alternatives to meat.

 

Currently, BYND has a market capitalization of $2,436 million and has traded over the past 52 weeks from $160.28 down to $35.21.  The forward P/E is an eye-watering 666. On a trailing 12-month basis, the company has an operating margin of -34.2 percent and a profit margin of -39.2 percent.  The return on assets is -10.8 percent and on equity -72.9 percent. Of the equity, 8.7 percent is held by insiders and 63.7 percent by institutions.  On April 14th, 41 percent of the float was short.

Chick-News

Much of the recent pessimism is associated with reports that test marketing of the McDonald’s McPlant™ has received minimal acceptance.  In an inflationary environment, only a dedicated few consumers concerned over welfare and sustainability are willing to pay more for a product with lower nutritional value and with organoleptic qualities considered inferior to real beef.


 
Copyright © 2022 Simon M. Shane