Once Upon A Farm (NYSE:OFRM) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Once Upon A Farm from “Sell” to “Hold.” The broader analyst consensus is also “Hold,” with six Buy, five Hold and one Sell rating, and an average price target of $25.72.
• OFRM shares rose 3.4% to open at $16.89, while the company reported quarterly EPS of -$0.12, beating estimates of -$0.18, on revenue of $85.39 million.
• Institutional investor interest increased: BlackRock and Nicholas Investment Partners significantly expanded their holdings, while several other investment firms initiated new positions during the second quarter.

Once Upon A Farm (NYSE:OFRM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on OFRM. Freedom Broker started coverage on shares of Once Upon A Farm in a research note on Thursday. They set a "buy" rating and a $24.50 price target on the stock. Barclays upped their price objective on shares of Once Upon A Farm from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. raised their target price on shares of Once Upon A Farm from $22.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Once Upon A Farm from a "sell (e-)" rating to a "sell (e)" rating in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $25.72.

Once Upon A Farm Stock Up 3.4%

Shares of NYSE:OFRM opened at $16.89 on Friday. Once Upon A Farm has a 52-week low of $14.00 and a 52-week high of $27.00. The stock's fifty day simple moving average is $16.91 and its 200-day simple moving average is $16.79. The company has a market capitalization of $709.00 million and a P/E ratio of -46.90.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.06. The company had revenue of $85.39 million for the quarter. On average, sell-side analysts anticipate that Once Upon A Farm will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Once Upon A Farm

Several hedge funds have recently modified their holdings of OFRM. BlackRock Inc. grew its holdings in Once Upon A Farm by 225.9% in the second quarter. BlackRock Inc. now owns 859,180 shares of the organic kids food company's stock valued at $17,596,000 after purchasing an additional 595,571 shares during the period. Nicholas Investment Partners LP boosted its holdings in shares of Once Upon A Farm by 271.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 784,166 shares of the organic kids food company's stock valued at $16,060,000 after purchasing an additional 573,285 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Once Upon A Farm in the 2nd quarter valued at $10,240,000. Jupiter Topco LLC purchased a new stake in shares of Once Upon A Farm during the 2nd quarter valued at $9,468,000. Finally, State Street Corp purchased a new stake in shares of Once Upon A Farm during the 2nd quarter valued at $3,395,000.

About Once Upon A Farm

Once Upon A Farm, Inc is a food company focused on organic, clean-label nutrition for babies, toddlers, children and families. Its products are made with fruit, vegetables and other recognizable ingredients, with an emphasis on refrigerated and minimally processed foods.

The company's product portfolio includes refrigerated baby food pouches, toddler meals, applesauce and fruit pouches, smoothies, snacks and other children's foods. Once Upon A Farm sells its products through grocery stores, mass retailers, natural-food retailers and e-commerce channels in the United States.

Once Upon A Farm was founded in 2015 by Cassandra Curtis and Ari Raz, with John Foraker, a former Annie's executive, later joining the company as chief executive officer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.