Vital Farms’ (VITL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Vital Farms (NASDAQ:VITL) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $45.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating on shares of Vital Farms in a report on Wednesday, January 14th. Zacks Research lowered shares of Vital Farms from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. DA Davidson set a $47.00 price target on Vital Farms and gave the company a “buy” rating in a report on Wednesday, December 17th. Mizuho decreased their price objective on Vital Farms from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Vital Farms in a research report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Vital Farms Trading Up 1.1%

Shares of NASDAQ VITL opened at $28.45 on Friday. Vital Farms has a 12-month low of $26.65 and a 12-month high of $53.13. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 21.55 and a beta of 1.10. The company has a current ratio of 2.65, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $31.05 and its 200 day simple moving average is $37.79.

Vital Farms (NASDAQ:VITL) last issued its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The firm had revenue of $198.94 million for the quarter, compared to analyst estimates of $191.35 million. Vital Farms had a return on equity of 20.19% and a net margin of 8.50%.The firm’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Equities research analysts expect that Vital Farms will post 1.11 EPS for the current year.

Insider Activity

In other Vital Farms news, CEO Russell Diez-Canseco sold 16,734 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $35.05, for a total value of $586,526.70. Following the completion of the sale, the chief executive officer directly owned 649,684 shares of the company’s stock, valued at approximately $22,771,424.20. This represents a 2.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Ohayer sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $33.17, for a total transaction of $829,250.00. Following the transaction, the insider owned 6,391,190 shares of the company’s stock, valued at approximately $211,995,772.30. This trade represents a 0.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,734 shares of company stock valued at $2,552,177 in the last ninety days. Company insiders own 21.30% of the company’s stock.

Institutional Trading of Vital Farms

Large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new position in shares of Vital Farms in the 3rd quarter worth $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Vital Farms during the third quarter valued at approximately $55,000. GAMMA Investing LLC boosted its stake in Vital Farms by 896.2% in the 4th quarter. GAMMA Investing LLC now owns 2,590 shares of the company’s stock worth $83,000 after purchasing an additional 2,330 shares during the period. Virtus Advisers LLC acquired a new stake in Vital Farms during the 3rd quarter valued at $105,000. Finally, Assetmark Inc. raised its stake in Vital Farms by 18.9% during the 2nd quarter. Assetmark Inc. now owns 3,153 shares of the company’s stock valued at $121,000 after purchasing an additional 501 shares during the period. 98.59% of the stock is currently owned by 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.