Wells Fargo & Company Cuts Freshpet (NASDAQ:FRPT) Price Target to $110.00

Freshpet (NASDAQ:FRPT) had its price objective lowered by Wells Fargo & Company from $142.00 to $110.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 33.92% from the company’s previous close.

FRPT has been the topic of several other research reports. 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. Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Jefferies Financial Group raised 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 note on Monday, February 24th. Truist Financial lowered their price objective on shares of Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Piper Sandler cut their target price on Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $146.53.

Freshpet Trading Down 4.2 %

Shares of NASDAQ FRPT traded down $3.59 during midday trading on Wednesday, reaching $82.14. The stock had a trading volume of 283,010 shares, compared to its average volume of 1,400,988. Freshpet has a twelve month low of $80.27 and a twelve month high of $164.07. The company’s 50 day moving average price is $113.80 and its 200 day moving average price is $134.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 87.38 and a beta of 1.80.

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

Institutional Trading of Freshpet

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp grew its stake in shares of Freshpet by 3.2% during the 4th quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock worth $333,000 after purchasing an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Freshpet by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after buying an additional 75 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of Freshpet by 4.0% during the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock valued at $313,000 after acquiring an additional 82 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in Freshpet by 5.3% during the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock worth $249,000 after purchasing an additional 84 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Freshpet by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after buying an additional 92 shares in the last quarter.

About Freshpet

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.