TD Cowen Issues Pessimistic Forecast for Once Upon A Farm (NYSE:OFRM) Stock Price

Once Upon A Farm (NYSE:OFRM) had its price target decreased by stock analysts at TD Cowen from $18.00 to $13.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the organic kids food company’s stock. TD Cowen‘s target price suggests a potential upside of 41.69% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on OFRM. Wall Street Zen cut shares of Once Upon A Farm from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Barclays increased their price target on Once Upon A Farm from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Freedom Broker started coverage on shares of 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. Bank of America cut shares of Once Upon A Farm from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $21.00 to $10.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.39.

Once Upon A Farm Price Performance

Shares of OFRM traded down $0.27 during trading hours on Tuesday, hitting $9.18. 804,512 shares of the company were exchanged, compared to its average volume of 553,667. Once Upon A Farm has a one year low of $8.83 and a one year high of $27.00. The company has a market capitalization of $385.27 million and a PE ratio of -25.50. The firm has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $17.46.

Once Upon A Farm (NYSE:OFRM) last posted its quarterly earnings data on Thursday, August 6th. The organic kids food company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. The firm had revenue of $85.39 million for the quarter. Sell-side analysts expect that Once Upon A Farm will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Once Upon A Farm

Large investors have recently bought and sold shares of the stock. CenterBook Partners LP acquired a new stake in Once Upon A Farm in the 3rd quarter worth $4,186,000. Inspire Investing LLC bought a new position in shares of Once Upon A Farm during the 3rd quarter worth about $638,000. State of Alaska Department of Revenue acquired a new position in shares of Once Upon A Farm during the third quarter valued at about $39,000. State Street Corp acquired a new position in shares of Once Upon A Farm during the second quarter valued at about $3,395,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Once Upon A Farm during the second quarter valued at about $10,240,000.

Key Once Upon A Farm News

Here are the key news stories impacting Once Upon A Farm this week:

• Negative Sentiment: Nationwide product recall: Once Upon A Farm recalled its snack and toddler bars because of a potential choking hazard. Reports of serious choking incidents have raised concerns about product safety, potential costs, reputational damage and weaker consumer demand. The recall was associated with an approximately 36%–37% share-price decline. Once Upon a Farm snack bars recalled over choking hazard
• Negative Sentiment: Analyst downgrades and target cuts: Bank of America double-downgraded OFRM from Buy to Underperform and reduced its price target from $21 to $10. Although the new target implies limited potential upside from the reported $9.27 reference price, the downgrade signals substantially weaker expectations. BofA Securities Double Downgrades Once Upon a Farm to Underperform
• Negative Sentiment: JPMorgan also lowered its price target for Once Upon A Farm from $26 to $13, adding to the pressure from the recall and reinforcing concerns about the company’s near-term outlook. Once Upon a Farm price target lowered at JPMorgan
• Neutral Sentiment: Potential securities investigation: The law firm of Frank R. Cruz announced an investigation into potential securities-law violations following the sharp decline. The announcement does not establish wrongdoing, but it adds legal and headline risk for investors. Law firm investigates potential securities fraud

About Once Upon A Farm

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.