JPMorgan Chase & Co. Lowers Freshpet (NASDAQ:FRPT) Price Target to $91.00

Freshpet (NASDAQ:FRPT) had its price target reduced by JPMorgan Chase & Co. from $102.00 to $91.00 in a research report sent to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

FRPT has been the topic of several other research reports. Truist Financial dropped their target price on shares of Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Stifel Nicolaus cut their price objective on Freshpet from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup lowered their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Finally, Wells Fargo & Company reduced their price target on shares of Freshpet from $142.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Freshpet Trading Down 5.7 %

NASDAQ FRPT opened at $78.17 on Thursday. The firm’s fifty day simple moving average is $100.87 and its 200-day simple moving average is $131.24. 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 $72.90 and a 1-year high of $164.07. The company has a market capitalization of $3.81 billion, a PE ratio of 83.16 and a beta of 1.80.

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

Institutional Trading of Freshpet

Several hedge funds have recently modified their holdings of the company. Elequin Capital LP bought a new position in Freshpet in the 4th quarter valued at $29,000. Geneos Wealth Management Inc. increased its stake in shares of Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after buying an additional 151 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after buying an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet in the 3rd quarter valued at $32,000. Finally, R Squared Ltd bought a new stake in shares of Freshpet during the fourth quarter worth $39,000.

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.