Craig Hallum Lowers Vital Farms (NASDAQ:VITL) Price Target to $20.00

Vital Farms (NASDAQ:VITL) had its price target lowered by equities researchers at Craig Hallum from $55.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 59.01% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Telsey Advisory Group dropped their price objective on shares of Vital Farms from $35.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, March 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Vital Farms in a research report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and issued a $52.00 price target on shares of Vital Farms in a research note on Wednesday, December 17th. Zacks Research cut Vital Farms from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Needham & Company LLC reduced their price objective on Vital Farms from $35.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vital Farms currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.92.

Vital Farms Stock Down 6.1%

VITL traded down $0.82 during trading on Thursday, hitting $12.58. The company had a trading volume of 1,967,607 shares, compared to its average volume of 2,205,234. Vital Farms has a 1-year low of $12.35 and a 1-year high of $53.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 1.61. The company has a market cap of $563.46 million, a PE ratio of 8.74 and a beta of 1.14. The business has a 50-day moving average of $21.97 and a 200-day moving average of $30.68.

Vital Farms (NASDAQ:VITL) last issued its earnings results on Thursday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $213.55 million during the quarter, compared to analyst estimates of $212.83 million. Vital Farms had a net margin of 8.73% and a return on equity of 20.69%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. As a group, analysts forecast that Vital Farms will post 1.11 earnings per share for the current year.

Insider Activity

In related news, Director Karl Khoury purchased 5,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were bought at an average cost of $18.45 per share, for a total transaction of $92,250.00. Following the transaction, the director owned 119,789 shares of the company’s stock, valued at $2,210,107.05. This represents a 4.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Matthew Ohayer sold 25,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $30.85, for a total transaction of $771,250.00. Following the completion of the transaction, the insider owned 6,361,190 shares of the company’s stock, valued at $196,242,711.50. This trade represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,000 shares of company stock worth $1,736,050. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vital Farms

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Vital Farms by 89.2% during the 1st quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock valued at $591,000 after purchasing an additional 9,136 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Vital Farms by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,057 shares of the company’s stock valued at $611,000 after purchasing an additional 1,108 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Vital Farms by 3.3% during the first quarter. Goldman Sachs Group Inc. now owns 415,420 shares of the company’s stock worth $12,658,000 after buying an additional 13,397 shares in the last quarter. Woodline Partners LP bought a new stake in Vital Farms during the first quarter worth approximately $1,073,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Vital Farms by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 89,893 shares of the company’s stock worth $2,739,000 after buying an additional 1,198 shares during the last quarter. 98.59% of the stock is owned by institutional investors.

Vital Farms Company Profile

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms’ supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.