Beyond Meat (BYND - Free Report) closed at $75.41 in the latest trading session, marking a -0.3% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.71%. Elsewhere, the Dow lost 0.81%, while the tech-heavy Nasdaq lost 0.79%.
Prior to today's trading, shares of the plant-based meat company had gained 2.69% over the past month. This has outpaced the Consumer Staples sector's gain of 2.37% and lagged the S&P 500's gain of 4.77% in that time.
Investors will be hoping for strength from BYND as it approaches its next earnings release.
Investors should also note any recent changes to analyst estimates for BYND. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. BYND is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that BYND has a Forward P/E ratio of 195.96 right now. This represents a premium compared to its industry's average Forward P/E of 18.49.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.