Vital Farms, Inc. (NASDAQ:VITL) Stock Has Consensus Target Price of $16.91

Vital Farms, Inc. (NASDAQ:VITL) has been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.73.

A number of research firms have recently commented on VITL. Benchmark upgraded Vital Farms from a “hold” rating to a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Vital Farms in a report on Thursday, September 17th. BMO Capital Markets restated an “outperform” rating and issued a $15.00 price target on shares of Vital Farms in a research report on Friday, August 7th. Weiss Ratings cut shares of Vital Farms from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 29th. Finally, TD Cowen decreased their price target on shares of Vital Farms from $11.00 to $8.00 and set a “hold” rating on the stock in a research note on Tuesday, October 13th.

Hedge Funds Weigh In On Vital Farms

A number of institutional investors and hedge funds have recently made changes to their positions in VITL. BlackRock Inc. bought a new stake in Vital Farms in the second quarter worth about $60,153,000. Van Berkom & Associates Inc. boosted its position in shares of Vital Farms by 1,998.7% during the first quarter. Van Berkom & Associates Inc. now owns 2,261,533 shares of the company’s stock valued at $31,933,000 after buying an additional 2,153,775 shares during the period. Cibc World Market Inc. bought a new position in shares of Vital Farms during the second quarter valued at approximately $12,975,000. Bank of America Corp DE bought a new position in shares of Vital Farms during the second quarter valued at approximately $8,086,000. Finally, Principal Financial Group Inc. grew its stake in shares of Vital Farms by 41.6% during the first quarter. Principal Financial Group Inc. now owns 2,153,008 shares of the company’s stock valued at $30,400,000 after buying an additional 632,537 shares during the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

Vital Farms Stock Performance

Shares of NASDAQ VITL opened at $8.40 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 1.10. The company has a market cap of $360.61 million, a P/E ratio of -210.00 and a beta of 1.08. The firm’s fifty day moving average is $10.22 and its two-hundred day moving average is $11.16. Vital Farms has a 52-week low of $7.95 and a 52-week high of $42.08.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.47) EPS for the quarter, meeting the consensus estimate of ($0.47). The business had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.24 million. Vital Farms had a net margin of 0.02% and a return on equity of 3.46%. The business’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, analysts anticipate that Vital Farms will post -0.53 EPS for the current fiscal year.

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.