Vital Farms (NASDAQ:VITL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Vital Farms (NASDAQ:VITL) announced its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02, Briefing.com reports. Vital Farms had a return on equity of 22.77% and a net margin of 8.70%. The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $145.27 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 31.3% on a year-over-year basis. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Price Performance

VITL opened at $30.91 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.03 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 29.16 and a beta of 0.97. The stock’s 50-day moving average price is $35.01 and its 200 day moving average price is $36.58. Vital Farms has a 12-month low of $11.55 and a 12-month high of $48.41.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VITL shares. DA Davidson upped their price target on Vital Farms from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus decreased their target price on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen decreased their target price on Vital Farms from $46.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.75.

Insider Buying and Selling at Vital Farms

In other Vital Farms news, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $40.07, for a total value of $1,789,245.71. Following the sale, the chief executive officer now owns 537,349 shares of the company’s stock, valued at $21,531,574.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Vital Farms news, CEO Russell Diez-Canseco sold 44,653 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $40.07, for a total value of $1,789,245.71. Following the sale, the chief executive officer now owns 537,349 shares of the company’s stock, valued at $21,531,574.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Ohayer sold 24,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $39.09, for a total value of $938,160.00. Following the completion of the transaction, the insider now owns 7,194,777 shares in the company, valued at approximately $281,243,832.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 27.60% of the stock is owned by corporate insiders.

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.