Once Upon A Farm (NYSE:OFRM) Stock Rated Buy in New Coverage at Freedom Broker

Research analysts at Freedom Broker started coverage on shares of Once Upon A Farm (NYSE:OFRM) in a research report issued to clients and investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $24.50 price target on the organic kids food company’s stock. Freedom Broker’s price objective points to a potential upside of 50.63% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Once Upon A Farm from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Once Upon A Farm from a “sell (e-)” rating to a “sell (e)” rating in a research report on Wednesday, August 12th. Finally, Barclays raised their price target on shares of Once Upon A Farm from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.72.

Once Upon A Farm Trading Down 2.0%

Shares of NYSE:OFRM traded down $0.33 on Thursday, reaching $16.27. The company had a trading volume of 159,138 shares, compared to its average volume of 529,603. The firm has a market capitalization of $682.97 million and a PE ratio of -45.18. Once Upon A Farm has a 52-week low of $14.00 and a 52-week high of $27.00. The firm’s 50 day simple moving average is $16.87 and its 200-day simple moving average is $16.80.

Once Upon A Farm (NYSE:OFRM) last released its quarterly earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $85.39 million during the quarter. As a group, equities research analysts predict that Once Upon A Farm will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Once Upon A Farm

Several institutional investors and hedge funds have recently modified their holdings of OFRM. State Street Corp purchased a new stake in shares of Once Upon A Farm in the second quarter valued at approximately $3,395,000. BlackRock Inc. lifted its position in shares of Once Upon A Farm by 225.9% during the 2nd quarter. BlackRock Inc. now owns 859,180 shares of the organic kids food company’s stock valued at $17,596,000 after buying an additional 595,571 shares in the last quarter. Nicholas Investment Partners LP grew its stake in Once Upon A Farm by 271.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 784,166 shares of the organic kids food company’s stock valued at $16,060,000 after acquiring an additional 573,285 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Once Upon A Farm in the 2nd quarter valued at $10,240,000. Finally, Lisanti Capital Growth LLC purchased a new stake in Once Upon A Farm in the 2nd quarter worth $1,665,000.

About Once Upon A Farm

Once Upon A Farm, Inc is a food company focused on organic, clean-label nutrition for babies, toddlers, children and families. Its products are made with fruit, vegetables and other recognizable ingredients, with an emphasis on refrigerated and minimally processed foods.

The company’s product portfolio includes refrigerated baby food pouches, toddler meals, applesauce and fruit pouches, smoothies, snacks and other children’s foods. Once Upon A Farm sells its products through grocery stores, mass retailers, natural-food retailers and e-commerce channels in the United States.

Once Upon A Farm was founded in 2015 by Cassandra Curtis and Ari Raz, with John Foraker, a former Annie’s executive, later joining the company as chief executive officer.