U.S. Markets closed

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

Zacks Equity Research

Beyond Meat (BYND) closed the most recent trading day at $77.30, moving +1.27% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq gained 0.05%.

Coming into today, shares of the plant-based meat company had lost 1.32% in the past month. In that same time, the Consumer Staples sector gained 2.74%, while the S&P 500 gained 2.48%.

BYND will be looking to display strength as it nears its next earnings release.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BYND is holding a Zacks Rank of #2 (Buy) right now.

The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.

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