Vital Farms (NASDAQ:VITL) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Vital Farms (NASDAQ:VITL) posted its earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16, Briefing.com reports. Vital Farms had a return on equity of 19.58% and a net margin of 7.48%. The company had revenue of $147.39 million during the quarter, compared to the consensus estimate of $138.41 million. During the same quarter last year, the firm earned $0.15 earnings per share. The company’s revenue was up 38.5% on a year-over-year basis. Vital Farms updated its FY 2024 guidance to EPS.

Vital Farms Stock Performance

NASDAQ:VITL opened at $30.27 on Monday. Vital Farms has a twelve month low of $10.30 and a twelve month high of $48.41. The company has a quick ratio of 2.66, a current ratio of 3.10 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $40.98 and its 200 day simple moving average is $30.32. The firm has a market capitalization of $1.28 billion, a PE ratio of 35.85 and a beta of 0.98.

Insiders Place Their Bets

In related news, insider Matthew Ohayer sold 24,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $39.58, for a total value of $949,920.00. Following the completion of the transaction, the insider now owns 7,266,777 shares of the company’s stock, valued at approximately $287,619,033.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Joanne Bal sold 2,597 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $40.71, for a total transaction of $105,723.87. Following the sale, the insider now owns 59,101 shares in the company, valued at approximately $2,406,001.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Ohayer sold 24,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $39.58, for a total value of $949,920.00. Following the completion of the transaction, the insider now owns 7,266,777 shares of the company’s stock, valued at $287,619,033.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,550 shares of company stock valued at $7,118,840. 30.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VITL. DA Davidson increased their price target on Vital Farms from $28.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Stifel Nicolaus decreased their price target on Vital Farms from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday. TD Cowen raised Vital Farms from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Friday. Finally, Lake Street Capital increased their price objective on shares of Vital Farms from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Vital Farms has an average rating of “Moderate Buy” and a consensus target price of $34.60.

About Vital Farms

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.