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Beyond Meat (BYND) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
Updated ·2-min read

Beyond Meat (BYND) closed at $110.17 in the latest trading session, marking a -0.24% move from the prior day. This move lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 1.68%, and the Nasdaq, a tech-heavy index, added 0.43%.

Heading into today, shares of the plant-based meat company had gained 31.64% over the past month, outpacing the Consumer Staples sector's gain of 0.4% and the S&P 500's gain of 2.1% in that time.

Investors will be hoping for strength from BYND as it approaches its next earnings release.

Any recent changes to analyst estimates for BYND should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.11% higher. BYND is currently a Zacks Rank #3 (Hold).

Looking at its valuation, BYND is holding a Forward P/E ratio of 277.46. This valuation marks a premium compared to its industry's average Forward P/E of 17.39.

The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BYND in the coming trading sessions, be sure to utilize Zacks.com.

Click to get this free report Beyond Meat, Inc. (BYND) : Free Stock Analysis Report To read this article on Zacks.com click here.