Vital Farms (NASDAQ:VITL) Given New $20.00 Price Target at Craig Hallum

Vital Farms (NASDAQ:VITL) had its price target lowered by Craig Hallum from $55.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target indicates a potential upside of 59.01% from the stock’s current price.

VITL has been the subject of several other reports. Telsey Advisory Group decreased their target price on shares of Vital Farms from $35.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, March 27th. Zacks Research downgraded shares of Vital Farms from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Mizuho decreased their price objective on shares of Vital Farms from $48.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. Needham & Company LLC lowered their price objective on shares of Vital Farms from $35.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, BMO Capital Markets cut their target price on shares of Vital Farms from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, December 18th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.92.

Vital Farms Trading Down 6.1%

Shares of NASDAQ VITL traded down $0.82 during mid-day trading on Thursday, hitting $12.58. 1,967,607 shares of the company traded hands, compared to its average volume of 2,205,234. Vital Farms has a 1 year low of $12.35 and a 1 year high of $53.13. The stock has a market capitalization of $563.46 million, a price-to-earnings ratio of 8.74 and a beta of 1.14. The company has a quick ratio of 1.61, a current ratio of 2.16 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $21.97 and a two-hundred day moving average of $30.68.

Vital Farms (NASDAQ:VITL) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $213.55 million during the quarter, compared to analysts’ expectations of $212.83 million. Vital Farms had a return on equity of 20.69% and a net margin of 8.73%.The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. On average, sell-side analysts anticipate that Vital Farms will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Vital Farms

In related news, Director Karl Khoury bought 5,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $18.45 per share, for a total transaction of $92,250.00. Following the transaction, the director directly owned 119,789 shares in the company, valued at $2,210,107.05. This represents a 4.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Matthew Ohayer sold 20,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $20.33, for a total transaction of $406,600.00. Following the completion of the sale, the insider owned 6,321,190 shares of the company’s stock, valued at approximately $128,509,792.70. The trade was a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,000 shares of company stock valued at $1,736,050. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vital Farms

Institutional investors and hedge funds have recently modified their holdings of the stock. Triumph Capital Management bought a new stake in shares of Vital Farms during the 4th quarter worth about $25,000. Quarry LP acquired a new stake in Vital Farms in the 4th quarter worth approximately $27,000. Exchange Traded Concepts LLC acquired a new stake in Vital Farms in the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC boosted its position in Vital Farms by 4,382.6% during the fourth quarter. Global Retirement Partners LLC now owns 1,031 shares of the company’s stock worth $33,000 after purchasing an additional 1,008 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Vital Farms by 225.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,452 shares of the company’s stock worth $46,000 after purchasing an additional 1,006 shares during the period. 98.59% of the stock is currently 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.