Vital Farms (NASDAQ:VITL) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Vital Farms from “strong sell” to “hold,” while analysts overall maintain a “hold” consensus with an average price target of $17.18.
• Vital Farms reported quarterly revenue of $166.03 million, beating estimates of $160.24 million, but posted an adjusted loss of $0.47 per share and revenue declined 10.2% year over year.
• Shares rose 2.7% to open at $11.56; insiders purchased 35,700 shares worth approximately $296,174 during the latest quarter, while institutional investors own 98.59% of the stock.

Vital Farms (NASDAQ:VITL - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on VITL. Benchmark raised shares of Vital Farms from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Vital Farms from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 7th. Needham & Company LLC lifted their target price on shares of Vital Farms from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wall Street Zen downgraded Vital Farms from a "hold" rating to a "strong sell" rating in a report on Saturday, May 9th. Finally, William Blair reissued a "market perform" rating on shares of Vital Farms in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Vital Farms presently has an average rating of "Hold" and an average price target of $17.18.

Vital Farms Trading Up 2.7%

Shares of Vital Farms stock opened at $11.56 on Monday. 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 1 year low of $7.95 and a 1 year high of $53.13. The company has a market capitalization of $496.29 million, a P/E ratio of -289.00 and a beta of 1.07. The business has a 50 day moving average price of $11.94 and a 200 day moving average price of $15.26.

Vital Farms (NASDAQ:VITL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.47) EPS for the quarter, meeting analysts' consensus estimates of ($0.47). The business had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.24 million. Vital Farms had a return on equity of 3.46% and a net margin of 0.02%.The business's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Sell-side analysts anticipate that Vital Farms will post -0.42 EPS for the current fiscal year.

Insider Activity at Vital Farms

In related news, insider Peter Nicholas Pappas bought 3,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $8.51 per share, for a total transaction of $29,785.00. Following the completion of the acquisition, the insider owned 85,169 shares in the company, valued at $724,788.19. This trade represents a 4.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Michael Holland purchased 12,484 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $8.00 per share, with a total value of $99,872.00. Following the transaction, the insider directly owned 38,150 shares of the company's stock, valued at $305,200. The trade was a 48.64% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 35,700 shares of company stock worth $296,174. 3.90% of the stock is owned by insiders.

Institutional Trading of Vital Farms

Institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC acquired a new stake in shares of Vital Farms during the 2nd quarter worth $212,000. Green Alpha Advisors LLC purchased a new position in shares of Vital Farms in the 2nd quarter worth $559,000. PCM Encore LLC acquired a new position in Vital Farms in the second quarter valued at $121,000. Trillium Asset Management LLC purchased a new stake in Vital Farms during the second quarter valued at about $820,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Vital Farms during the second quarter valued at about $27,000. 98.59% of the stock is owned by hedge funds and other institutional investors.

Vital Farms Company Profile

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