Freshpet (NASDAQ:FRPT) Trading Down 3.2% Following Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT)’s share price traded down 3.2% during trading 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 trading, a decline of 87% from the average session volume of 1,450,447 shares. The stock had previously closed at $88.76.

Other research analysts have also issued reports about the stock. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and cut their target price for the company from $155.00 to $150.00 in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Stifel Nicolaus lowered their price target on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a report on Monday, March 10th. Truist Financial restated a “buy” rating and set a $140.00 price objective (down from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price objective on Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. 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. According to MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target of $150.67.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Freshpet by 21.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,084 shares of the company’s stock worth $1,049,000 after acquiring an additional 1,272 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Freshpet in the fourth quarter valued at approximately $14,678,000. Forum Financial Management LP bought a new position in Freshpet in the fourth quarter worth approximately $215,000. Public Employees Retirement System of Ohio increased its holdings 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 purchasing an additional 10,009 shares during the period. Finally, Elequin Capital LP purchased a new position in Freshpet during the 4th quarter worth $29,000.

Freshpet Trading Down 3.7 %

The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a 50-day simple moving average of $123.62 and a two-hundred day simple moving average of $137.18. The firm has a market capitalization of $4.17 billion, a P/E ratio of 91.05 and a beta of 1.58.

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