Beyond Meat (BYND, $120.79) shares downgraded by Piper Sandler analyst
Beyond Meat shares got a rating downgrade from Piper Sandler analyst Michael Lavery, on his views on retail trends and competition.
Lavery cut his rating on the plant-based meat producer’s shares to neutral from overweight. He also lowered his share-price target on Beyond Meat to $125 from $144.
The analyst mentioned that current retail momentum lags consensus expectations for the fourth quarter, and earnings estimates for 2021 are at risk. According to him, data is indicative of another quarter of under-shipments.
Lavery also warned that there is adequate space for competition, and said that new entrants “can both validate the category with consumers and help build broader visibility.” According to him, while Beyond Meat has an opportunity at McDonald’s, that’s not providing great brand visibility.
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Notable companies
The most notable companies in this group are Mondelez International (NASDAQ:MDLZ), Kraft Heinz Company (The) (NASDAQ:KHC), General Mills (NYSE:GIS), Campbell Soup Company (NYSE:CPB), Beyond Meat (NASDAQ:BYND).
Industry description
A specialty/candy manufacturer specializes in one or more of the following: chocolate, candies, pasta, condiments, seasonings, among other items. Hershey Company, McCormick & Company and J.M. Smucker Company are some of the major firms in this segment. Demand for this industry’s products comes from both institutions/restaurants as well as households.
Market Cap
The average market capitalization across the Food: Specialty/Candy Industry is 8.85B. The market cap for tickers in the group ranges from 6.25K to 327.81B. NSRGY holds the highest valuation in this group at 327.81B. The lowest valued company is OGGFF at 6.25K.
High and low price notable news
The average weekly price growth across all stocks in the Food: Specialty/Candy Industry was 0%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was 13%. NUZE experienced the highest price growth at 167%, while SRKE experienced the biggest fall at -56%.
Volume
The average weekly volume growth across all stocks in the Food: Specialty/Candy Industry was 30%. For the same stocks of the Industry, the average monthly volume growth was 23% and the average quarterly volume growth was 19%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 51
P/E Growth Rating: 61
Price Growth Rating: 59
SMR Rating: 76
Profit Risk Rating: 80
Seasonality Score: 10 (-100 ... +100)