Freshpet (NASDAQ:FRPT) Price Target Cut to $145.00 by Analysts at Piper Sandler

Freshpet (NASDAQ:FRPT) had its price target trimmed by Piper Sandler from $160.00 to $145.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Truist Financial reiterated a “buy” rating and issued a $140.00 price target (down from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Stifel Nicolaus dropped their price target on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company reduced their price objective on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Citigroup lowered their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $150.67.

Freshpet Price Performance

Shares of Freshpet stock opened at $86.23 on Tuesday. The company has a market capitalization 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 simple moving average is $122.34 and its 200-day simple moving average is $136.83. Freshpet has a 52 week low of $80.27 and a 52 week high of $164.07.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $275.46 million. As a group, analysts expect that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Freshpet

Institutional investors and hedge funds have recently modified their holdings of the stock. Elequin Capital LP purchased a new position in Freshpet during the 4th quarter worth $29,000. Geneos Wealth Management Inc. increased its stake in shares of Freshpet by 302.0% during 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 during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Freshpet in the third quarter valued at about $32,000. Jones Financial Companies Lllp lifted its stake in Freshpet by 130.9% in the fourth 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 Freshpet during the 4th quarter worth about $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.