Vital Farms (NASDAQ:VITL) Shares Gap Up – What’s Next?

Vital Farms, Inc. (NASDAQ:VITL) shares gapped up before the market opened on Monday . The stock had previously closed at $29.79, but opened at $31.39. Vital Farms shares last traded at $31.35, with a volume of 64,390 shares.

Analyst Upgrades and Downgrades

VITL has been the topic of several research reports. Morgan Stanley initiated coverage on Vital Farms in a report on Monday. They set an “overweight” rating and a $30.00 price objective on the stock. DA Davidson reduced their price objective on Vital Farms from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, March 14th. William Blair reiterated an “outperform” rating on shares of Vital Farms in a report on Friday, February 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $52.00 price target on shares of Vital Farms in a report on Thursday, March 13th. Finally, Stifel Nicolaus upgraded Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Friday, February 28th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $42.00.

Vital Farms Trading Up 3.0 %

The company has a 50 day moving average of $36.38 and a two-hundred day moving average of $35.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 3.24. The stock has a market capitalization of $1.36 billion, a PE ratio of 27.39 and a beta of 0.95.

Vital Farms (NASDAQ:VITL) last announced its earnings results on Thursday, February 27th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. Vital Farms had a return on equity of 22.29% and a net margin of 8.68%. The firm had revenue of $165.99 million for the quarter, compared to the consensus estimate of $160.32 million. Sell-side analysts predict that Vital Farms, Inc. will post 1.11 EPS for the current year.

Insider Activity

In related news, CEO Russell Diez-Canseco sold 44,628 shares of Vital Farms stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.24, for a total value of $1,885,086.72. Following the completion of the transaction, the chief executive officer now owns 668,202 shares in the company, valued at $28,224,852.48. The trade was a 6.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joanne Bal sold 28,246 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $45.10, for a total value of $1,273,894.60. Following the sale, the insider now owns 59,371 shares of the company’s stock, valued at approximately $2,677,632.10. This trade represents a 32.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,474 shares of company stock valued at $5,844,140 in the last quarter. 27.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vital Farms

Several large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Vital Farms in the third quarter valued at approximately $35,000. CIBC Private Wealth Group LLC lifted its stake in Vital Farms by 152.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 895 shares of the company’s stock worth $35,000 after purchasing an additional 540 shares in the last quarter. US Bancorp DE lifted its stake in Vital Farms by 160.3% during the fourth quarter. US Bancorp DE now owns 1,416 shares of the company’s stock worth $53,000 after purchasing an additional 872 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Vital Farms during the fourth quarter worth $59,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Vital Farms in the fourth quarter valued at $62,000. 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.