Vital Farms (NASDAQ:VITL) Stock Gets Price Target Cut from TD Cowen

Key Points

• TD Cowen cut Vital Farms’ price target from $11 to $8 and maintained a “hold” rating, implying 16.41% downside from the prior close.
• Vital Farms shares traded at $9.57, near the lower end of their 52-week range, while analysts’ overall consensus remained “Hold” with a $16.91 price target.
• The company’s latest quarter showed revenue of $166.03 million, above estimates, but revenue fell 10.2% year over year and the company reported a loss of $0.47 per share.

Vital Farms (NASDAQ:VITL - Get Free Report) had its price objective cut by research analysts at TD Cowen from $11.00 to $8.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. TD Cowen's target price suggests a potential downside of 16.41% from the stock's previous close.

VITL has been the subject of a number of other reports. Stifel Nicolaus set a $11.00 price objective on Vital Farms in a research report on Friday, August 7th. Zacks Research raised shares of Vital Farms from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Vital Farms in a research note on Thursday, September 17th. DA Davidson dropped their price objective on shares of Vital Farms from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Finally, Jefferies Financial Group set a $13.00 target price on shares of Vital Farms in a research report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $16.91.

Vital Farms Trading Up 1.1%

NASDAQ VITL traded up $0.10 on Tuesday, hitting $9.57. 266,788 shares of the stock were exchanged, compared to its average volume of 2,304,374. The company's 50-day moving average price is $10.50 and its two-hundred day moving average price is $11.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.10 and a quick ratio of 0.60. Vital Farms has a 52-week low of $7.95 and a 52-week high of $42.42. The company has a market capitalization of $410.84 million, a price-to-earnings ratio of -239.90 and a beta of 1.08.

Vital Farms (NASDAQ:VITL - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.47). Vital Farms had a return on equity of 3.46% and a net margin of 0.02%. The company had revenue of $166.03 million during the quarter, compared to analyst estimates of $160.24 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company's revenue for the quarter was down 10.2% on a year-over-year basis. Research analysts predict that Vital Farms will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in Vital Farms in the 2nd quarter worth $8,086,000. Corient Private Wealth LP acquired a new position in Vital Farms during the 2nd quarter worth $1,752,000. Cygnus Capital Advisors LLC boosted its holdings in Vital Farms by 721.0% during the second quarter. Cygnus Capital Advisors LLC now owns 232,480 shares of the company's stock valued at $2,704,000 after acquiring an additional 204,162 shares during the period. Bank of New York Mellon Corp bought a new stake in Vital Farms during the second quarter valued at about $1,467,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Vital Farms by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,405,032 shares of the company's stock valued at $19,836,000 after purchasing an additional 447,728 shares during the last quarter. 98.59% of the stock is owned by institutional investors.

About Vital Farms

Vital Farms, Inc NASDAQ: VITL is a food company that produces and markets pasture-raised eggs and other ethically sourced food products. Its portfolio includes pasture-raised eggs, egg bites, hard-boiled eggs, butter and ghee, sold under the Vital Farms brand.

Founded in 2007, the company works with a network of family farms that follow its animal-care standards. Vital Farms emphasizes outdoor access for hens, traceability and responsible farming practices, and markets its products as alternatives to conventional eggs and dairy offerings.

Vital Farms serves consumers primarily through grocery retailers and other food channels across the United States.

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