Vital Farms (NASDAQ:VITL) Price Target Raised to $45.00

Vital Farms (NASDAQ:VITL) had its price objective hoisted by equities researchers at TD Cowen from $41.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 14.33% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Craig Hallum initiated coverage on shares of Vital Farms in a research note on Friday, December 20th. They set a “buy” rating and a $50.00 price target on the stock. Jefferies Financial Group lowered their target price on shares of Vital Farms from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, DA Davidson increased their price target on shares of Vital Farms from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Vital Farms presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Vital Farms Stock Performance

Shares of NASDAQ:VITL traded up $1.76 on Wednesday, hitting $39.36. 384,853 shares of the company were exchanged, compared to its average volume of 586,004. The company’s 50 day moving average price is $34.88 and its two-hundred day moving average price is $35.96. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 35.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24. Vital Farms has a one year low of $14.16 and a one year high of $48.41.

Vital Farms (NASDAQ:VITL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $145.27 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. Research analysts expect that Vital Farms will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Vital Farms

In related news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $38.19, for a total transaction of $916,560.00. Following the completion of the sale, the insider now directly owns 7,038,890 shares of the company’s stock, valued at $268,815,209.10. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Russell Diez-Canseco sold 44,653 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $40.07, for a total value of $1,789,245.71. Following the completion of the transaction, the chief executive officer now directly owns 537,349 shares in the company, valued at approximately $21,531,574.43. This represents a 7.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,381 shares of company stock worth $5,328,422 over the last ninety days. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

A number of hedge funds have recently added to or reduced their stakes in VITL. Brown Brothers Harriman & Co. acquired a new stake in shares of Vital Farms in the 3rd quarter valued at $35,000. Quarry LP increased its position in Vital Farms by 180.4% in the second quarter. Quarry LP now owns 1,290 shares of the company’s stock worth $60,000 after purchasing an additional 830 shares during the period. Quest Partners LLC bought a new stake in Vital Farms during the 2nd quarter worth about $97,000. nVerses Capital LLC raised its holdings in Vital Farms by 130.0% during the 3rd quarter. nVerses Capital LLC now owns 4,600 shares of the company’s stock worth $161,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Vital Farms during the 2nd quarter valued at about $168,000. Institutional investors own 98.59% of the company’s stock.

Vital Farms Company Profile

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.