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

Freshpet, Inc. (NASDAQ:FRPT) fell 3.2% 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 traded hands during mid-day trading, a decline of 87% from the average session volume of 1,450,447 shares. The stock had previously closed at $88.76.

Several other research analysts also recently weighed in on the stock. Oppenheimer downgraded shares of Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Wells Fargo & Company lowered their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Truist Financial reissued a “buy” rating and issued a $140.00 price target (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Citigroup lowered their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.67.

Institutional Trading of Freshpet

Several hedge funds have recently added to or reduced their stakes in FRPT. Elequin Capital LP acquired a new position in shares of Freshpet during the fourth quarter valued at $29,000. Geneos Wealth Management Inc. grew its position in Freshpet by 302.0% in the 4th 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. Wilmington Savings Fund Society FSB acquired a new position in Freshpet during the 3rd quarter valued at about $32,000. Jones Financial Companies Lllp lifted its stake 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 bought a new position in shares of Freshpet in the fourth quarter valued at approximately $39,000.

Freshpet Stock Down 2.9 %

The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 91.73 and a beta of 1.58. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $122.34 and its 200 day moving average is $136.83.

Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Analysts forecast that Freshpet, Inc. will post 1.55 EPS 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.