Once Upon A Farm (NYSE:OFRM) Cut to Underperform at Bank of America

Once Upon A Farm (NYSE:OFRM) was downgraded by Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Tuesday, Briefing.com reports. They currently have a $10.00 price objective on the organic kids food company’s stock. Bank of America‘s target price points to a potential upside of 7.83% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of Once Upon A Farm from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday. Barclays raised their price objective on Once Upon A Farm from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. TD Cowen cut their price objective on Once Upon A Farm from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, October 13th. JPMorgan Chase & Co. boosted their price objective on Once Upon A Farm from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen cut Once Upon A Farm from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Once Upon A Farm presently has an average rating of “Hold” and a consensus price target of $23.94.

Once Upon A Farm Price Performance

OFRM stock opened at $9.27 on Tuesday. The company has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $17.46. The stock has a market cap of $389.42 million and a price-to-earnings ratio of -25.76. Once Upon A Farm has a 1 year low of $9.07 and a 1 year high of $27.00.

Once Upon A Farm (NYSE:OFRM) last issued its quarterly earnings data on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The company had revenue of $85.39 million during the quarter. On average, equities research analysts anticipate that Once Upon A Farm will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Once Upon A Farm

A number of institutional investors have recently added to or reduced their stakes in OFRM. BlackRock Inc. raised its stake in shares of Once Upon A Farm by 225.9% during the second quarter. BlackRock Inc. now owns 859,180 shares of the organic kids food company’s stock valued at $17,596,000 after acquiring an additional 595,571 shares during the last quarter. Nicholas Investment Partners LP lifted its holdings in shares of Once Upon A Farm by 271.9% during the second quarter. Nicholas Investment Partners LP now owns 784,166 shares of the organic kids food company’s stock worth $16,060,000 after purchasing an additional 573,285 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Once Upon A Farm during the second quarter worth $10,240,000. Jupiter Topco LLC bought a new stake in shares of Once Upon A Farm in the second quarter worth $9,468,000. Finally, CenterBook Partners LP bought a new stake in shares of Once Upon A Farm in the third quarter worth $4,186,000.

Key Stories Impacting Once Upon A Farm

Here are the key news stories impacting Once Upon A Farm this week:

• Neutral Sentiment: The company held a shareholder and analyst call, but the available reports do not identify a new operating or financial catalyst that would offset the recall-related concerns. Shareholder/Analyst Call Transcript
• Negative Sentiment: Once Upon A Farm’s snack bars were recalled nationwide over a potential choking hazard, following reports involving toddlers. Coverage characterized the risk as potentially fatal, increasing the possibility of lost sales, product-recall expenses, retailer disruption and damage to consumer trust. Snack Bars Recalled Over Choking Hazard
• Negative Sentiment: Additional market coverage linked the sharp decline in OFRM to the recall, indicating investors are pricing in heightened uncertainty around the company’s products and near-term performance. Jennifer Garner’s Once Upon a Farm Stock Sinks on Product Recall
• Negative Sentiment: The Law Offices of Frank R. Cruz announced an investigation into potential securities-law violations related to the company’s disclosures on November 2. The announcement does not establish wrongdoing, but it adds litigation risk and may further pressure investor sentiment after the product-safety news. Securities Fraud Investigation Announcement

About Once Upon A Farm

Once Upon a Farm is a U.S.-based food company focused on organic, refrigerated foods for babies, children and families. Its products are designed around fruits, vegetables and other minimally processed ingredients.

The company’s offerings have included refrigerated baby food pouches, toddler meals, kids’ snacks, smoothies and other family-oriented products. Once Upon a Farm distributes its products through grocery retailers, mass merchants and online channels in the United States.

The company was founded in 2015 by Cassandra Curtis, Ari Raz and John Foraker, with actress and entrepreneur Jennifer Garner joining as a co-founder and brand partner.