Oppenheimer Cuts Freshpet (NASDAQ:FRPT) Price Target to $140.00

Freshpet (NASDAQ:FRPT) had its price target dropped by equities research analysts at Oppenheimer from $180.00 to $140.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 33.61% from the stock’s previous close.

A number of other brokerages have also issued reports on FRPT. DA Davidson boosted their target price on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird upped their target price on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Citigroup cut their price target on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. One investment 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 MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.47.

Freshpet Price Performance

Shares of Freshpet stock traded up $4.50 during trading hours on Monday, hitting $104.78. The company’s stock had a trading volume of 424,551 shares, compared to its average volume of 910,474. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. Freshpet has a 12-month low of $97.48 and a 12-month high of $164.07. The business has a 50 day moving average price of $145.55 and a two-hundred day moving average price of $143.13. The company has a market cap of $5.10 billion, a PE ratio of 112.14 and a beta of 1.42.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results 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 company had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. Analysts expect that Freshpet will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In related news, President Scott James Morris sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the transaction, the president now directly owns 122,380 shares in the company, valued at approximately $19,351,949.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. WCM Investment Management LLC increased its position in shares of Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the last quarter. Norges Bank purchased a new position in Freshpet during the fourth quarter worth about $75,253,000. Allspring Global Investments Holdings LLC boosted its stake in Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after buying an additional 253,679 shares during the period. Point72 Asset Management L.P. increased its position in shares of Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after acquiring an additional 186,889 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Freshpet by 54.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after acquiring an additional 154,909 shares during the period.

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.