Freshpet (NASDAQ:FRPT) Stock Price Down 1.9% on Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT)’s share price dropped 1.9% on Tuesday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock traded as low as $80.27 and last traded at $83.41. Approximately 597,218 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 1,235,868 shares. The stock had previously closed at $85.05.

FRPT has been the topic of several other research reports. Wells Fargo & Company dropped their price target on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Citigroup dropped their price target on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Truist Financial restated a “buy” rating and issued a $140.00 price target (down previously from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler dropped their price target on Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $151.67.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new stake in shares of Freshpet in the 4th quarter worth approximately $29,000. Geneos Wealth Management Inc. grew its holdings in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after acquiring an additional 151 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet in the 3rd quarter worth approximately $32,000. Jones Financial Companies Lllp grew its holdings in shares of Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after acquiring an additional 123 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Freshpet in the 4th quarter worth approximately $39,000.

Freshpet Trading Down 1.5 %

The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 89.13 and a beta of 1.58. 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 business has a fifty day moving average of $135.55 and a two-hundred day moving average of $140.70.

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