Vital Farms (NASDAQ:VITL) Rating Increased to Buy at Benchmark

Key Points

• Benchmark upgraded Vital Farms from “hold” to “buy,” though the broader analyst consensus remains “hold,” with an average price target of $24.08.
• Vital Farms shares rose 1.0% to $12.37, well below their 12-month high of $53.13. The company reported quarterly revenue of $166.03 million, ahead of expectations, but revenue declined 10.2% year over year.
• Insiders purchased 38,700 shares worth approximately $320,864 over the past three months, while institutional investors and hedge funds own 98.59% of the company.

Vital Farms (NASDAQ:VITL - Get Free Report) was upgraded by Benchmark from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports.

Several other brokerages also recently commented on VITL. Wall Street Zen downgraded Vital Farms from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 9th. Morgan Stanley set a $10.00 price target on Vital Farms in a report on Friday, May 8th. Stifel Nicolaus restated a "hold" rating and set a $10.00 target price (down from $34.00) on shares of Vital Farms in a research note on Friday, May 8th. TD Cowen downgraded shares of Vital Farms from a "buy" rating to a "hold" rating and cut their price objective for the stock from $25.00 to $16.00 in a research report on Wednesday, April 8th. Finally, Craig Hallum cut Vital Farms from a "buy" rating to a "hold" rating and set a $10.00 price target for the company. in a report on Friday, May 8th. Six research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.08.

Vital Farms Stock Up 1.0%

Shares of NASDAQ:VITL traded up $0.13 during midday trading on Thursday, hitting $12.37. The stock had a trading volume of 2,550,430 shares, compared to its average volume of 2,528,516. Vital Farms has a 12 month low of $7.95 and a 12 month high of $53.13. The company has a quick ratio of 1.00, a current ratio of 1.77 and a debt-to-equity ratio of 0.01. The business's 50-day simple moving average is $11.79 and its 200-day simple moving average is $15.72. The company has a market cap of $529.94 million, a P/E ratio of 11.89 and a beta of 1.07.

Vital Farms (NASDAQ:VITL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.47) EPS for the quarter, meeting analysts' consensus estimates of ($0.47). The firm had revenue of $166.03 million during the quarter, compared to analysts' expectations of $160.24 million. Vital Farms had a net margin of 6.10% and a return on equity of 14.47%. The company's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. On average, sell-side analysts forecast that Vital Farms will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Vital Farms

In other news, Director Glenda J. Flanagan acquired 6,100 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $8.33 per share, with a total value of $50,813.00. Following the completion of the transaction, the director directly owned 37,498 shares of the company's stock, valued at $312,358.34. This trade represents a 19.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Coon bought 5,895 shares of the firm's stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $8.42 per share, for a total transaction of $49,635.90. Following the completion of the acquisition, the insider owned 62,314 shares in the company, valued at approximately $524,683.88. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 38,700 shares of company stock valued at $320,864 in the last three months. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of Vital Farms

Several large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Vital Farms by 1.4% in the 4th quarter. Advisors Asset Management Inc. now owns 34,072 shares of the company's stock valued at $1,088,000 after purchasing an additional 479 shares during the period. Van ECK Associates Corp boosted its position in shares of Vital Farms by 7.7% during the 4th quarter. Van ECK Associates Corp now owns 6,912 shares of the company's stock valued at $221,000 after purchasing an additional 495 shares in the last quarter. Clean Yield Group grew its stake in Vital Farms by 0.9% during the fourth quarter. Clean Yield Group now owns 65,406 shares of the company's stock worth $2,089,000 after purchasing an additional 596 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Vital Farms by 47.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,957 shares of the company's stock worth $63,000 after purchasing an additional 629 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Vital Farms by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 35,631 shares of the company's stock worth $1,138,000 after purchasing an additional 754 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company's stock.

About Vital Farms

Vital Farms, traded on the NASDAQ under the symbol VITL, is a U.S.-based food company specializing in pasture-raised egg and dairy products. The company partners with a network of family farms across the United States to produce eggs, butter and related items under a certified humane, pasture-centric farming model. Vital Farms' supply chain emphasizes animal welfare, environmental stewardship and transparent sourcing, appealing to consumers seeking ethically produced, high-quality ingredients.

Founded in 2007 and headquartered in Austin, Texas, Vital Farms began by marketing pasture-raised eggs to health- and ethically minded shoppers.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source