Telsey Advisory Group Reaffirms Outperform Rating for Vital Farms (NASDAQ:VITL)

Vital Farms (NASDAQ:VITL)‘s stock had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $50.00 target price on the stock. Telsey Advisory Group’s target price indicates a potential upside of 55.04% from the company’s previous close.

VITL has been the topic of several other research reports. Needham & Company LLC began coverage on shares of Vital Farms in a research note on Friday, December 5th. They set a “buy” rating and a $45.00 target price on the stock. Mizuho decreased their price objective on shares of Vital Farms from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Benchmark started coverage on Vital Farms in a report on Thursday, November 13th. They set a “buy” rating and a $60.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $52.00 target price on shares of Vital Farms in a research report on Wednesday. Finally, Zacks Research lowered Vital Farms from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.92.

Vital Farms Stock Down 1.6%

Shares of Vital Farms stock opened at $32.25 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.65 and a quick ratio of 2.15. Vital Farms has a 1-year low of $28.87 and a 1-year high of $53.13. The business’s fifty day moving average price is $34.52 and its two-hundred day moving average price is $38.95. The company has a market capitalization of $1.44 billion, a P/E ratio of 24.43 and a beta of 1.06.

Vital Farms (NASDAQ:VITL) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The company had revenue of $198.94 million during the quarter, compared to analysts’ expectations of $191.35 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, research analysts forecast that Vital Farms will post 1.11 EPS for the current year.

Insider Activity at Vital Farms

In related news, CEO Russell Diez-Canseco sold 16,734 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $35.05, for a total transaction of $586,526.70. Following the completion of the sale, the chief executive officer directly owned 649,684 shares in the company, valued at approximately $22,771,424.20. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew Ohayer sold 5,000 shares of Vital Farms stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $35.25, for a total transaction of $176,250.00. Following the completion of the transaction, the insider owned 6,386,190 shares in the company, valued at approximately $225,113,197.50. This trade represents a 0.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 86,401 shares of company stock valued at $3,008,045. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Vital Farms

A number of institutional investors and hedge funds have recently modified their holdings of VITL. Campbell Newman Asset Management Inc. grew its stake in Vital Farms by 0.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 68,724 shares of the company’s stock valued at $2,828,000 after buying an additional 291 shares during the last quarter. Granite Investment Partners LLC boosted its holdings in Vital Farms by 0.7% during the third quarter. Granite Investment Partners LLC now owns 59,114 shares of the company’s stock valued at $2,433,000 after acquiring an additional 427 shares during the period. Assetmark Inc. boosted its holdings in Vital Farms by 18.9% during the second quarter. Assetmark Inc. now owns 3,153 shares of the company’s stock valued at $121,000 after acquiring an additional 501 shares during the period. Cim LLC grew its position in shares of Vital Farms by 5.6% in the second quarter. Cim LLC now owns 12,551 shares of the company’s stock valued at $483,000 after purchasing an additional 670 shares during the last quarter. Finally, Dakota Wealth Management increased its stake in shares of Vital Farms by 8.7% in the second quarter. Dakota Wealth Management now owns 8,541 shares of the company’s stock worth $329,000 after purchasing an additional 680 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

Vital Farms Company Profile

Vital Farms, Inc, a food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, and liquid whole eggs. The company was founded in 2007 and is headquartered in Austin, Texas.