Freshpet (NASDAQ:FRPT) Shares Down 3.2% After Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT) traded down 3.2% on Tuesday after Piper Sandler lowered their price target on the stock from $160.00 to $145.00. Piper Sandler currently has an overweight rating on the stock. Freshpet traded as low as $85.42 and last traded at $85.95. 183,862 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,450,447 shares. The stock had previously closed at $88.76.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price objective on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company cut their target price on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research report 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. Finally, Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.67.

Hedge Funds Weigh In On Freshpet

Several large investors have recently added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in shares of Freshpet during the 4th quarter valued at $29,000. Geneos Wealth Management Inc. increased its stake in Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after buying an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freshpet during the third quarter valued at about $32,000. Jones Financial Companies Lllp lifted its position in shares of Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after acquiring an additional 123 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Freshpet in the fourth quarter worth about $39,000.

Freshpet Price Performance

The firm has a 50-day moving average of $123.62 and a 200-day moving average of $137.18. The stock has a market cap of $4.17 billion, a PE ratio of 91.05 and a beta of 1.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

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

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.