Vital Farms (NASDAQ:VITL) Price Target Cut to $44.00 by Analysts at TD Cowen

Vital Farms (NASDAQ:VITL) had its price objective lowered by TD Cowen from $59.00 to $44.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on VITL. Morgan Stanley lowered their price target on shares of Vital Farms from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Vital Farms from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday. Benchmark restated a “buy” rating on shares of Vital Farms in a report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Vital Farms in a research report on Thursday. Finally, DA Davidson set a $47.00 price target on Vital Farms and gave the stock a “buy” rating in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.92.

Vital Farms Stock Down 1.6%

Shares of VITL opened at $32.25 on Thursday. The stock’s 50-day moving average price is $34.52 and its two-hundred day moving average price is $38.95. Vital Farms has a 12 month low of $28.87 and a 12 month high of $53.13. The company has a market capitalization of $1.44 billion, a PE ratio of 24.43 and a beta of 1.06. The company has a current ratio of 2.65, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $198.94 million during the quarter, compared to the consensus estimate of $191.35 million. Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The firm’s revenue was up 37.2% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. On average, analysts anticipate that Vital Farms will post 1.11 EPS for the current year.

Insider Buying and Selling at Vital Farms

In other Vital Farms news, insider Matthew Ohayer sold 25,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $33.17, for a total value of $829,250.00. Following the completion of the sale, the insider directly owned 6,391,190 shares in the company, valued at approximately $211,995,772.30. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Russell Diez-Canseco sold 16,734 shares of Vital Farms stock in a transaction on Monday, December 15th. The shares were sold at an average price of $35.05, for a total transaction of $586,526.70. Following the completion of the sale, the chief executive officer directly owned 649,684 shares of the company’s stock, valued at approximately $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 86,401 shares of company stock worth $3,008,045. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VITL. Exchange Traded Concepts LLC acquired a new stake in Vital Farms in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Vital Farms during the third quarter worth approximately $55,000. Virtus Advisers LLC bought a new position in shares of Vital Farms in the 3rd quarter worth $105,000. Assetmark Inc. grew its position in Vital Farms by 18.9% in the 2nd quarter. Assetmark Inc. now owns 3,153 shares of the company’s stock valued at $121,000 after purchasing an additional 501 shares during the period. Finally, Comerica Bank increased its stake in Vital Farms by 63.2% during the 1st quarter. Comerica Bank now owns 4,049 shares of the company’s stock valued at $123,000 after purchasing an additional 1,568 shares in the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.

About Vital Farms

Vital Farms, Inc, a food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, and liquid whole eggs. The company was founded in 2007 and is headquartered in Austin, Texas.