Vital Farms (NASDAQ:VITL) Stock Gets Price Target Reduction from Needham & Company LLC

Vital Farms (NASDAQ:VITL) had its price objective reduced by Needham & Company LLC from $14.00 to $13.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. TD Cowen lowered their price objective on shares of Vital Farms from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Tuesday, October 13th. Stifel Nicolaus cut their target price on shares of Vital Farms from $11.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, October 15th. DA Davidson set a $10.00 target price on shares of Vital Farms in a research note on Tuesday, October 27th. Zacks Research upgraded shares of Vital Farms from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Vital Farms from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 29th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.45.

Vital Farms Stock Performance

NASDAQ:VITL remained flat at $9.52 during trading hours on Wednesday. The company had a trading volume of 2,278,069 shares, compared to its average volume of 1,614,334. The stock has a market cap of $408.69 million, a price-to-earnings ratio of -17.31 and a beta of 1.16. Vital Farms has a 52-week low of $7.95 and a 52-week high of $36.10. 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 stock has a fifty day moving average price of $9.67 and a two-hundred day moving average price of $13.68.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Vital Farms had a return on equity of 3.46% and a net margin of 0.02%. The business had revenue of $182.16 million for the quarter, compared to analyst estimates of $181.78 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. The company’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts predict that Vital Farms will post -0.71 earnings per share for the current year.

Hedge Funds Weigh In On Vital Farms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VITL. BlackRock Inc. bought a new stake in Vital Farms in the second quarter worth approximately $60,153,000. Van Berkom & Associates Inc. raised its holdings in shares of Vital Farms by 1,998.7% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,261,533 shares of the company’s stock valued at $31,933,000 after purchasing an additional 2,153,775 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Vital Farms by 41.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,153,008 shares of the company’s stock valued at $30,400,000 after purchasing an additional 632,537 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Vital Farms by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,405,032 shares of the company’s stock valued at $19,836,000 after purchasing an additional 447,728 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new stake in shares of Vital Farms in the 2nd quarter valued at $12,975,000. Institutional investors own 98.59% of the company’s stock.

About Vital Farms

Vital Farms, Inc is a food company that produces and markets pasture-raised eggs and other ethically sourced food products. Its offerings include pasture-raised eggs, butter, hard-boiled eggs and ghee, sold under the Vital Farms brand.

Founded in 2007, the company works with a network of family farms and focuses on animal welfare, outdoor access and supply-chain transparency. Vital Farms products are distributed primarily through grocery retailers and other food channels across the United States.

Vital Farms is headquartered in Austin, Texas.