DA Davidson Lowers Vital Farms (NASDAQ:VITL) Price Target to $42.00

Vital Farms (NASDAQ:VITL) had its price target cut by analysts at DA Davidson from $44.00 to $42.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 33.29% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Craig Hallum initiated coverage on Vital Farms in a report on Friday, December 20th. They set a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus raised shares of Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Vital Farms in a research report on Friday, February 28th. TD Cowen increased their target price on shares of Vital Farms from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $52.00 price target on shares of Vital Farms in a report on Thursday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $43.71.

Vital Farms Price Performance

Shares of Vital Farms stock traded up $2.19 during trading on Friday, hitting $31.51. 328,691 shares of the stock traded hands, compared to its average volume of 977,740. The firm’s fifty day moving average is $37.64 and its 200-day moving average is $35.70. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 28.15 and a beta of 0.95. Vital Farms has a 52 week low of $20.87 and a 52 week high of $48.41. The company has a quick ratio of 2.81, a current ratio of 3.24 and a debt-to-equity ratio of 0.04.

Vital Farms (NASDAQ:VITL) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Vital Farms had a net margin of 8.68% and a return on equity of 22.29%. The firm had revenue of $165.99 million during the quarter, compared to analyst estimates of $160.32 million. Research analysts expect that Vital Farms will post 1.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Matthew Ohayer sold 24,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $38.19, for a total transaction of $916,560.00. Following the sale, the insider now owns 7,038,890 shares of the company’s stock, valued at $268,815,209.10. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joanne Bal sold 28,246 shares of Vital Farms stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $45.10, for a total transaction of $1,273,894.60. Following the transaction, the insider now owns 59,371 shares of the company’s stock, valued at $2,677,632.10. The trade was a 32.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,474 shares of company stock worth $6,171,500. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Vital Farms

Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its position in Vital Farms by 152.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 895 shares of the company’s stock valued at $35,000 after purchasing an additional 540 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Vital Farms during the third quarter valued at $35,000. US Bancorp DE boosted its position in shares of Vital Farms by 160.3% during the fourth quarter. US Bancorp DE now owns 1,416 shares of the company’s stock valued at $53,000 after buying an additional 872 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in Vital Farms in the 4th quarter worth about $59,000. Finally, Mendota Financial Group LLC purchased a new position in Vital Farms in the 4th quarter worth about $62,000. 98.59% of the stock is currently owned by institutional investors.

About Vital Farms

Vital Farms, Inc, a food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, and liquid whole eggs. The company was founded in 2007 and is headquartered in Austin, Texas.