Vital Farms (NASDAQ:VITL) PT Raised to $48.00

Vital Farms (NASDAQ:VITL) had its price objective increased by stock analysts at DA Davidson from $44.00 to $48.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 20.69% from the company’s current price.

VITL has been the subject of several other research reports. Stifel Nicolaus decreased their price objective on shares of Vital Farms from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, August 9th. TD Cowen raised Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.20.

Vital Farms Stock Performance

NASDAQ:VITL opened at $39.77 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.03 and a current ratio of 3.50. The stock’s fifty day moving average is $33.09 and its 200 day moving average is $34.90. The firm has a market capitalization of $1.71 billion, a PE ratio of 37.52 and a beta of 0.97. Vital Farms has a fifty-two week low of $10.41 and a fifty-two week high of $48.41.

Vital Farms (NASDAQ:VITL) last released its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. Vital Farms had a net margin of 8.70% and a return on equity of 22.77%. The firm had revenue of $147.39 million during the quarter, compared to analyst estimates of $138.41 million. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 38.5% on a year-over-year basis. On average, sell-side analysts anticipate that Vital Farms will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Vital Farms

In other news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $39.58, for a total transaction of $949,920.00. Following the transaction, the insider now directly owns 7,266,777 shares of the company’s stock, valued at approximately $287,619,033.66. This trade represents a 0.00 % 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. 27.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vital Farms

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Vital Farms by 8.6% in the 2nd quarter. Van ECK Associates Corp now owns 4,095 shares of the company’s stock valued at $192,000 after purchasing an additional 323 shares in the last quarter. CWM LLC raised its stake in Vital Farms by 162.9% in the second quarter. CWM LLC now owns 1,057 shares of the company’s stock worth $49,000 after buying an additional 655 shares in the last quarter. nVerses Capital LLC lifted its holdings in Vital Farms by 66.7% during the second quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $94,000 after buying an additional 800 shares during the period. Quarry LP boosted its position in Vital Farms by 180.4% during the 2nd quarter. Quarry LP now owns 1,290 shares of the company’s stock valued at $60,000 after acquiring an additional 830 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Vital Farms in the 2nd quarter valued at $42,000. 98.59% of the stock is currently owned by hedge funds and other 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.