Piper Sandler Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price target dropped by analysts at Piper Sandler from $180.00 to $160.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 56.18% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Citigroup reduced their price target on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. DA Davidson raised their target price on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of Freshpet in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $162.64.

Freshpet Stock Down 3.7 %

Freshpet stock opened at $102.45 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The business’s 50-day simple moving average is $146.48 and its two-hundred day simple moving average is $143.06. The company has a market cap of $4.97 billion, a PE ratio of 121.06 and a beta of 1.42. Freshpet has a fifty-two week low of $89.15 and a fifty-two week high of $164.07.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. Equities analysts anticipate that Freshpet will post 0.89 EPS for the current year.

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total transaction of $790,650.00. Following the completion of the sale, the president now directly owns 122,380 shares in the company, valued at approximately $19,351,949.40. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently bought and sold shares of the company. M&T Bank Corp grew its holdings in Freshpet by 3.2% in the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock valued at $333,000 after purchasing an additional 70 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Freshpet by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock valued at $805,000 after acquiring an additional 75 shares during the last quarter. Vident Advisory LLC raised its position in Freshpet by 4.0% during the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock worth $313,000 after acquiring an additional 82 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Freshpet by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock valued at $249,000 after purchasing an additional 84 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Freshpet by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $85,000 after purchasing an additional 92 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.