Vital Farms (NASDAQ:VITL) Stock Gets Price Target Cut from TD Cowen

Vital Farms (NASDAQ:VITL) had its price target trimmed by TD Cowen from $11.00 to $8.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on VITL. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Vital Farms in a research report on Thursday, September 17th. Stifel Nicolaus set a $11.00 price target on Vital Farms in a research report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $15.00 price target on shares of Vital Farms in a research report on Friday, August 7th. DA Davidson dropped their price target on Vital Farms from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings cut Vital Farms from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.73.

Vital Farms Price Performance

NASDAQ VITL opened at $8.55 on Tuesday. The stock has a market capitalization of $367.05 million, a P/E ratio of -213.75 and a beta of 1.08. Vital Farms has a 1 year low of $7.95 and a 1 year high of $42.08. The business’s fifty day moving average is $10.30 and its two-hundred day moving average is $11.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 1.10.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.47) EPS for the quarter, meeting analysts’ consensus estimates of ($0.47). The company had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.24 million. Vital Farms had a return on equity of 3.46% and a net margin of 0.02%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, research analysts forecast that Vital Farms will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vital Farms

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Vital Farms in the 2nd quarter valued at approximately $8,086,000. Cygnus Capital Advisors LLC lifted its holdings in Vital Farms by 721.0% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 232,480 shares of the company’s stock worth $2,704,000 after purchasing an additional 204,162 shares during the last quarter. Corient Private Wealth LP acquired a new stake in Vital Farms in the 2nd quarter worth approximately $1,752,000. Bank of New York Mellon Corp acquired a new stake in Vital Farms in the 2nd quarter worth approximately $1,467,000. Finally, Dimensional Fund Advisors LP boosted its position in Vital Farms by 46.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,405,032 shares of the company’s stock worth $19,836,000 after purchasing an additional 447,728 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

About Vital Farms

Vital Farms, Inc (NASDAQ: VITL) is a food company that produces and markets pasture-raised eggs and other ethically sourced food products. Its portfolio includes pasture-raised eggs, egg bites, hard-boiled eggs, butter and ghee, sold under the Vital Farms brand.

Founded in 2007, the company works with a network of family farms that follow its animal-care standards. Vital Farms emphasizes outdoor access for hens, traceability and responsible farming practices, and markets its products as alternatives to conventional eggs and dairy offerings.

Vital Farms serves consumers primarily through grocery retailers and other food channels across the United States.