Freshpet (NASDAQ:FRPT) Given New $145.00 Price Target at Piper Sandler

Freshpet (NASDAQ:FRPT) had its target price lowered by equities researchers at Piper Sandler from $160.00 to $145.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 63.36% from the stock’s previous close.

A number of other analysts have also weighed in on FRPT. Stifel Nicolaus lowered their target price on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. dropped their target price on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and decreased their price target for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Citigroup dropped their price objective on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Oppenheimer downgraded Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.67.

Freshpet Price Performance

Shares of Freshpet stock opened at $88.76 on Tuesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 94.43 and a beta of 1.58. The firm’s 50-day moving average price is $123.62 and its two-hundred day moving average price is $137.18. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. Freshpet has a 1-year low of $80.27 and a 1-year high of $164.07.

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

Institutional Trading of Freshpet

A number of hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Freshpet by 21.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,084 shares of the company’s stock valued at $1,049,000 after purchasing an additional 1,272 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Freshpet in the 4th quarter valued at $14,678,000. Forum Financial Management LP acquired a new stake in Freshpet during the 4th quarter worth $215,000. Public Employees Retirement System of Ohio raised its stake in Freshpet by 24.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,129 shares of the company’s stock worth $7,573,000 after buying an additional 10,009 shares during the period. Finally, Elequin Capital LP bought a new position in Freshpet during the fourth quarter worth about $29,000.

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.