Freshpet (NASDAQ:FRPT) Price Target Lowered to $145.00 at Piper Sandler

Freshpet (NASDAQ:FRPT) had its target price decreased by research analysts at Piper Sandler from $160.00 to $145.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 63.36% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Citigroup reduced their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and cut their target price for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Finally, Stifel Nicolaus lowered their price target on Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and an average price target of $150.67.

Freshpet Stock Performance

FRPT stock opened at $88.76 on Tuesday. The firm has a 50 day moving average of $123.62 and a two-hundred day moving average of $137.18. Freshpet has a 12 month low of $80.27 and a 12 month high of $164.07. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 94.43 and a beta of 1.58. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share (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 during the quarter, compared to analysts’ expectations of $275.46 million. As a group, equities analysts anticipate that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Freshpet in the fourth quarter worth about $75,253,000. Allspring Global Investments Holdings LLC grew its stake in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Freshpet by 391.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock worth $32,090,000 after buying an additional 186,889 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after buying an additional 154,909 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Freshpet by 267.0% in the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company’s stock valued at $23,045,000 after buying an additional 113,200 shares in 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.