Vital Farms’ (VITL) Buy Rating Reaffirmed at Needham & Company LLC

Vital Farms (NASDAQ:VITL)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They presently have a $45.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 59.97% from the company’s current price.

Several other analysts also recently issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Vital Farms in a research report on Tuesday, January 20th. Jefferies Financial Group restated a “buy” rating and issued a $52.00 target price on shares of Vital Farms in a report on Wednesday, December 17th. DA Davidson set a $47.00 price target on Vital Farms and gave the company a “buy” rating in a research note on Wednesday, December 17th. Zacks Research downgraded Vital Farms from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vital Farms in a research report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.91.

Vital Farms Stock Performance

Shares of Vital Farms stock opened at $28.13 on Friday. The business has a 50-day simple moving average of $31.12 and a 200 day simple moving average of $37.85. Vital Farms has a one year low of $26.65 and a one year high of $53.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.65 and a quick ratio of 2.15. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.31 and a beta of 1.11.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. The business had revenue of $198.94 million for the quarter, compared to analyst estimates of $191.35 million. Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The company’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, research analysts anticipate that Vital Farms will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Russell Diez-Canseco sold 16,734 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $35.05, for a total transaction of $586,526.70. Following the completion of the sale, the chief executive officer directly owned 649,684 shares of the company’s stock, valued at approximately $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Ohayer sold 25,000 shares of Vital Farms stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $30.85, for a total value of $771,250.00. Following the sale, the insider owned 6,361,190 shares in the company, valued at $196,242,711.50. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 101,734 shares of company stock valued at $3,350,177 over the last ninety days. 21.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vital Farms

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its holdings in Vital Farms by 16.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 56,571 shares of the company’s stock valued at $2,179,000 after buying an additional 8,008 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Vital Farms in the third quarter worth about $1,728,000. Aurora Investment Counsel boosted its position in shares of Vital Farms by 36.5% in the second quarter. Aurora Investment Counsel now owns 49,335 shares of the company’s stock valued at $1,900,000 after acquiring an additional 13,202 shares during the period. Peregrine Capital Management LLC purchased a new position in Vital Farms during the second quarter valued at approximately $7,665,000. Finally, Geode Capital Management LLC increased its holdings in Vital Farms by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 807,003 shares of the company’s stock worth $31,089,000 after acquiring an additional 18,682 shares during the period. Hedge funds and other institutional investors own 98.59% of the company’s stock.

About Vital Farms

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.