Once Upon A Farm (NYSE:OFRM) Stock Rated "Buy" in New Coverage at Freedom Broker

Key Points

• Freedom Broker initiated coverage of Once Upon A Farm with a “Buy” rating and a $24.50 price target, implying 50.63% upside from the prior close.
• Analyst sentiment is mixed but generally constructive: six analysts rate the stock Buy, five Hold, and one Sell, while the consensus price target is $25.72 and the average rating is Hold.
• OFRM shares fell 2.0% to $16.27, despite the company beating quarterly EPS expectations with a loss of $0.12 versus the projected $0.18 loss on $85.39 million in revenue. Several institutional investors also initiated or increased positions during the second quarter.

Equities researchers at Freedom Broker initiated coverage on shares of Once Upon A Farm (NYSE:OFRM - Get Free Report) in a note issued to investors on Thursday, Benzinga reports. The firm set a "buy" rating and a $24.50 price target on the organic kids food company's stock. Freedom Broker's price target points to a potential upside of 50.63% from the stock's previous close.

A number of other equities analysts have also weighed in on OFRM. JPMorgan Chase & Co. upped 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. Barclays lifted their price target on shares of Once Upon A Farm from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Once Upon A Farm from a "sell (e-)" rating to a "sell (e)" rating in a report on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Once Upon A Farm has an average rating of "Hold" and a consensus price target of $25.72.

Once Upon A Farm Trading Down 2.0%

Once Upon A Farm stock traded down $0.33 during mid-day trading on Thursday, hitting $16.27. The stock had a trading volume of 159,138 shares, compared to its average volume of 529,603. Once Upon A Farm has a one year low of $14.00 and a one year high of $27.00. The firm has a market capitalization of $682.97 million and a P/E ratio of -45.18. The firm's 50 day moving average is $16.87 and its 200 day moving average is $16.80.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The business had revenue of $85.39 million during the quarter. As a group, equities research analysts forecast that Once Upon A Farm will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. State Street Corp bought a new stake in shares of Once Upon A Farm during the second quarter valued at approximately $3,395,000. Alyeska Investment Group L.P. bought a new position in Once Upon A Farm during the 2nd quarter worth about $10,240,000. Public Employees Retirement System of Ohio grew its holdings in Once Upon A Farm by 18.6% during 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 in the last quarter. Jupiter Topco LLC purchased a new position in Once Upon A Farm during the 2nd quarter valued at about $9,468,000. Finally, Nicholas Investment Partners LP raised 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 in the last quarter.

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.

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