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

Key Points

• TD Cowen lowered its price target for Once Upon A Farm from $18 to $13 while maintaining a “hold” rating; the new target implies roughly 42% upside from the reported $9.18 share price.
• Analyst sentiment remains mixed but has weakened, with Bank of America downgrading the stock to “underperform” and cutting its target to $10. MarketBeat reports a consensus “hold” rating and an average price target of $23.39.
• Shares have fallen sharply amid a nationwide recall of snack and toddler bars tied to a potential choking hazard. OFRM traded near its 52-week low, while the company remains loss-making despite reporting quarterly revenue of $85.39 million and a better-than-expected loss per share.

Once Upon A Farm (NYSE:OFRM - Get Free Report) had its price objective lowered by analysts at TD Cowen from $18.00 to $13.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "hold" rating on the organic kids food company's stock. TD Cowen's price target would suggest a potential upside of 41.69% from the stock's current price.

A number of other analysts have also issued reports on OFRM. Freedom Broker started coverage on Once Upon A Farm in a research report on Thursday, October 8th. They set a "buy" rating and a $24.50 target price on the stock. Bank of America lowered shares of Once Upon A Farm from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $21.00 to $10.00 in a research note on Tuesday. Weiss Ratings raised shares of Once Upon A Farm from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of 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, Wall Street Zen lowered shares of Once Upon A Farm from a "hold" rating to a "sell" rating in a research note on Saturday, October 24th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.39.

Once Upon A Farm Stock Performance

Shares of OFRM stock traded down $0.27 on Tuesday, hitting $9.18. The stock had a trading volume of 804,512 shares, compared to its average volume of 553,667. The firm has a market capitalization of $385.27 million and a price-to-earnings ratio of -25.50. The stock's 50 day moving average is $16.47 and its 200-day moving average is $17.46. Once Upon A Farm has a 52-week low of $8.83 and a 52-week high of $27.00.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.06. The firm had revenue of $85.39 million during the quarter. Equities analysts expect 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

A number of institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in Once Upon A Farm in the third quarter worth about $39,000. Inspire Investing LLC bought a new position in shares of Once Upon A Farm during the third quarter valued at approximately $638,000. Bank of New York Mellon Corp bought a new position in shares of Once Upon A Farm during the second quarter valued at approximately $781,000. Lisanti Capital Growth LLC acquired a new stake in Once Upon A Farm in the second quarter worth $1,665,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Once Upon A Farm by 18.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,967 shares of the organic kids food company's stock worth $1,781,000 after acquiring an additional 13,611 shares during the period.

Key Once Upon A Farm News

Here are the key news stories impacting Once Upon A Farm this week:

• Negative Sentiment: Nationwide product recall: Once Upon A Farm recalled its snack and toddler bars because of a potential choking hazard. Reports of serious choking incidents have raised concerns about product safety, potential costs, reputational damage and weaker consumer demand. The recall was associated with an approximately 36%–37% share-price decline. Once Upon a Farm snack bars recalled over choking hazard
• Negative Sentiment: Analyst downgrades and target cuts: Bank of America double-downgraded OFRM from Buy to Underperform and reduced its price target from $21 to $10. Although the new target implies limited potential upside from the reported $9.27 reference price, the downgrade signals substantially weaker expectations. BofA Securities Double Downgrades Once Upon a Farm to Underperform
• Negative Sentiment: JPMorgan also lowered its price target for Once Upon A Farm from $26 to $13, adding to the pressure from the recall and reinforcing concerns about the company’s near-term outlook. Once Upon a Farm price target lowered at JPMorgan
• Neutral Sentiment: Potential securities investigation: The law firm of Frank R. Cruz announced an investigation into potential securities-law violations following the sharp decline. The announcement does not establish wrongdoing, but it adds legal and headline risk for investors. Law firm investigates potential securities fraud

Once Upon A Farm Company Profile

Once Upon a Farm is a U.S.-based food company focused on organic, refrigerated foods for babies, children and families. Its products are designed around fruits, vegetables and other minimally processed ingredients.

The company's offerings have included refrigerated baby food pouches, toddler meals, kids' snacks, smoothies and other family-oriented products. Once Upon a Farm distributes its products through grocery retailers, mass merchants and online channels in the United States.

The company was founded in 2015 by Cassandra Curtis, Ari Raz and John Foraker, with actress and entrepreneur Jennifer Garner joining as a co-founder and brand partner.

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