Once Upon A Farm (NYSE:OFRM) Stock Gets Price Target Trim from TD Cowen

Key Points

• TD Cowen lowered Once Upon A Farm’s price target to $18 from $20 and maintained a “hold” rating, implying 8.7% upside from the prior close.
• Analyst sentiment is mixed, with six buy ratings, five holds and one sell; the consensus rating is “Hold” with an average price target of $25.72.
• OFRM shares were flat at $16.56, while the company reported quarterly EPS of -$0.12, beating expectations of -$0.18, on revenue of $85.39 million.

Once Upon A Farm (NYSE:OFRM - Get Free Report) had its price target reduced by analysts at TD Cowen from $20.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "hold" rating on the organic kids food company's stock. TD Cowen's price objective indicates a potential upside of 8.70% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the stock. Freedom Broker assumed coverage on shares of Once Upon A Farm in a research report on Thursday, October 8th. They issued a "buy" rating and a $24.50 price target for the company. Weiss Ratings raised Once Upon A Farm from a "sell (e-)" rating to a "sell (e)" rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Once Upon A Farm from a "sell" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. raised their price target on Once Upon A Farm from $22.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Barclays upped their price target on Once Upon A Farm from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Once Upon A Farm currently has a consensus rating of "Hold" and a consensus price target of $25.72.

Once Upon A Farm Price Performance

Shares of OFRM stock remained flat at $16.56 during trading on Tuesday. 37,505 shares of the company were exchanged, compared to its average volume of 524,581. The company has a fifty day simple moving average of $16.91 and a 200-day simple moving average of $16.79. The firm has a market cap of $695.35 million and a P/E ratio of -45.97. Once Upon A Farm has a 52-week low of $14.00 and a 52-week high of $27.00.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.06. The firm had revenue of $85.39 million for the quarter. Sell-side analysts anticipate that Once Upon A Farm will post -0.22 EPS for the current fiscal year.

Institutional Trading of Once Upon A Farm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OFRM. State Street Corp purchased a new stake in shares of Once Upon A Farm during the 2nd quarter valued at $3,395,000. BlackRock Inc. increased its position in shares of 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 worth $17,596,000 after acquiring an additional 595,571 shares in the last quarter. Nicholas Investment Partners LP raised its position in Once Upon A Farm by 271.9% in the second 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 period. Alyeska Investment Group L.P. purchased a new stake in shares of Once Upon A Farm in the second quarter worth about $10,240,000. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Once Upon A Farm in the second quarter valued at about $1,665,000.

Once Upon A Farm Company Profile

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.

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