Freshpet (NASDAQ:FRPT) Cut to Market Perform at Oppenheimer

Freshpet (NASDAQ:FRPT - Get Free Report) was downgraded by Oppenheimer from an "outperform" rating to a "market perform" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Several other brokerages have also commented on FRPT. Wells Fargo & Company cut their price target on shares of Freshpet from $170.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Stifel Nicolaus decreased their price target on shares of Freshpet from $155.00 to $135.00 and set a "buy" rating on the stock in a research note on Monday. StockNews.com cut Freshpet from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Citigroup reduced their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Finally, Truist Financial restated a "buy" rating and issued a $140.00 target price (down previously from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Freshpet has an average rating of "Moderate Buy" and a consensus target price of $151.67.

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Freshpet Stock Performance

FRPT stock traded down $0.27 during midday trading on Tuesday, hitting $86.50. 1,093,576 shares of the stock traded hands, compared to its average volume of 1,297,645. Freshpet has a 1-year low of $80.27 and a 1-year high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The stock's fifty day simple moving average is $133.04 and its 200-day simple moving average is $139.94. The firm has a market cap of $4.21 billion, a P/E ratio of 92.02 and a beta of 1.58.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The firm 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%. On average, analysts expect that Freshpet will post 1.55 earnings per share for the current year.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently made changes to their positions in FRPT. Elequin Capital LP acquired a new stake in Freshpet during the fourth quarter worth $29,000. Geneos Wealth Management Inc. increased its position in shares of Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company's stock worth $30,000 after purchasing an additional 151 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of 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 purchasing an additional 123 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet in the 3rd quarter valued at about $32,000. Finally, R Squared Ltd acquired a new position in Freshpet in the fourth quarter valued at 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.