DA Davidson Boosts Vital Farms (NASDAQ:VITL) Price Target to $48.00

Vital Farms (NASDAQ:VITL) had its price target raised by DA Davidson from $44.00 to $48.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

VITL has been the subject of a number of other reports. TD Cowen upgraded Vital Farms from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Friday, August 9th. Stifel Nicolaus lowered their price target on shares of Vital Farms from $42.00 to $34.00 and set a hold rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Vital Farms has a consensus rating of Moderate Buy and a consensus target price of $35.20.

Vital Farms Price Performance

Shares of NASDAQ:VITL opened at $38.73 on Thursday. The company has a market cap of $1.67 billion, a PE ratio of 36.54 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. The firm has a 50-day simple moving average of $32.99 and a 200 day simple moving average of $34.78. The company has a quick ratio of 3.03, a current ratio of 3.50 and a debt-to-equity ratio of 0.04.

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

Insiders Place Their Bets

In other news, insider Matthew Ohayer sold 24,000 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 27.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC raised its position in Vital Farms by 9.2% in the first quarter. William Blair Investment Management LLC now owns 2,650,008 shares of the company’s stock worth $61,613,000 after acquiring an additional 224,335 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Vital Farms by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 1,801,952 shares of the company’s stock worth $41,895,000 after purchasing an additional 152,743 shares in the last quarter. Marshall Wace LLP lifted its stake in Vital Farms by 29.7% during the second quarter. Marshall Wace LLP now owns 937,755 shares of the company’s stock valued at $43,859,000 after purchasing an additional 214,839 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Vital Farms by 116.1% during the first quarter. Lord Abbett & CO. LLC now owns 862,644 shares of the company’s stock worth $20,056,000 after buying an additional 463,471 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Vital Farms by 73.0% in the second quarter. Renaissance Technologies LLC now owns 784,153 shares of the company’s stock worth $36,675,000 after buying an additional 331,000 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

Vital Farms Company Profile

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.