In the latest trading session, Beyond Meat (BYND) closed at $123.92, marking a +1.53% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Prior to today's trading, shares of the plant-based meat company had lost 23.87% over the past month. This has lagged the Consumer Staples sector's loss of 1.8% and the S&P 500's loss of 0.25% in that time.
Investors will be hoping for strength from BYND as it approaches its next earnings release, which is expected to be October 28, 2019.
Any recent changes to analyst estimates for BYND should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. BYND currently has a Zacks Rank of #2 (Buy).
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.