Freshpet (NASDAQ:FRPT) Stock Price Up 4.3% – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT) shares rose 4.3% on Friday . The stock traded as high as $89.34 and last traded at $90.20. Approximately 221,088 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,274,653 shares. The stock had previously closed at $86.50.

Wall Street Analysts Forecast Growth

FRPT has been the subject of several analyst reports. Truist Financial reiterated a “buy” rating and issued a $140.00 price target (down from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Piper Sandler lowered their price objective on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and a consensus price target of $151.67.

Freshpet Price Performance

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 stock has a market cap of $4.28 billion, a price-to-earnings ratio of 93.45 and a beta of 1.58. The business’s fifty day simple moving average is $130.72 and its 200 day simple moving average is $139.26.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Research analysts predict that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Institutional investors have recently modified their holdings of the stock. Elequin Capital LP acquired a new stake in shares of Freshpet in the 4th quarter valued at about $29,000. Geneos Wealth Management Inc. raised its stake in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet in the 3rd quarter valued at about $32,000. Jones Financial Companies Lllp raised its stake in shares of Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Freshpet in the 4th quarter valued at about $39,000.

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.