Once Upon A Farm (NYSE:OFRM) Cut to Underperform at Bank of America

by · The Markets Daily

Bank of America cut shares of Once Upon A Farm (NYSE:OFRM – Free Report) from a buy rating to an underperform rating in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has $10.00 price target on the organic kids food company’s stock, down from their prior price target of $21.00.

Several other analysts also recently weighed in on OFRM. TD Cowen decreased their target price on Once Upon A Farm from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, October 13th. Weiss Ratings raised Once Upon A Farm from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday. Freedom Broker started coverage on Once Upon A Farm in a research report on Thursday, October 8th. They issued a “buy” rating and a $24.50 price target on the stock. Wall Street Zen downgraded Once Upon A Farm from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on Once Upon A Farm from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.39.

Read Our Latest Research Report on Once Upon A Farm

Once Upon A Farm Stock Down 6.9%

Shares of NYSE:OFRM opened at $9.23 on Tuesday. The stock’s 50-day moving average is $16.01 and its 200-day moving average is $17.34. Once Upon A Farm has a 52-week low of $8.83 and a 52-week high of $27.00.

Once Upon A Farm (NYSE:OFRM – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $85.39 million during the quarter. On average, analysts expect that Once Upon A Farm will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

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

Once Upon A Farm Company Profile

(Get Free Report)

Once Upon a Farm is a U.S.-based food company focused on organic, refrigerated foods for babies, children and families. Its products are designed around fruits, vegetables and other minimally processed ingredients.

The company’s offerings have included refrigerated baby food pouches, toddler meals, kids’ snacks, smoothies and other family-oriented products. Once Upon a Farm distributes its products through grocery retailers, mass merchants and online channels in the United States.

The company was founded in 2015 by Cassandra Curtis, Ari Raz and John Foraker, with actress and entrepreneur Jennifer Garner joining as a co-founder and brand partner.

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