Beyond Meat (BYND - Free Report) shares soared 13.5% in the last trading session to close at $17.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.9% gain over the past four weeks.
Shares of Beyond Meat rallied following news related to expanded distribution of its plant-based meat item — Beyond Steak — to Publix, Whole Foods Market, Wegmans, Meijer and Stater Bros. Markets. The item will now be available at almost 14,000 stores across the nation.
This plant-based meat company is expected to post quarterly loss of $0.81 per share in its upcoming report, which represents a year-over-year change of +47.1%. Revenues are expected to be $111.28 million, down 24.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Beyond Meat, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BYND going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Beyond Meat is a member of the Zacks Food - Meat Products industry. One other stock in the same industry, Tyson Foods (TSN - Free Report) , finished the last trading session 1% higher at $52.18. TSN has returned 2.8% over the past month.
For Tyson, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.37. This represents a change of -80.9% from what the company reported a year ago. Tyson currently has a Zacks Rank of #5 (Strong Sell).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Beyond Meat (BYND - Free Report) shares soared 13.5% in the last trading session to close at $17.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.9% gain over the past four weeks.
Shares of Beyond Meat rallied following news related to expanded distribution of its plant-based meat item — Beyond Steak — to Publix, Whole Foods Market, Wegmans, Meijer and Stater Bros. Markets. The item will now be available at almost 14,000 stores across the nation.
This plant-based meat company is expected to post quarterly loss of $0.81 per share in its upcoming report, which represents a year-over-year change of +47.1%. Revenues are expected to be $111.28 million, down 24.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Beyond Meat, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BYND going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Beyond Meat is a member of the Zacks Food - Meat Products industry. One other stock in the same industry, Tyson Foods (TSN - Free Report) , finished the last trading session 1% higher at $52.18. TSN has returned 2.8% over the past month.
For Tyson, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.37. This represents a change of -80.9% from what the company reported a year ago. Tyson currently has a Zacks Rank of #5 (Strong Sell).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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