Freshpet (NASDAQ:FRPT) Price Target Cut to $110.00 by Analysts at Truist Financial

Freshpet (NASDAQ:FRPT - Free Report) had its price target lowered by Truist Financial from $140.00 to $110.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on FRPT. JPMorgan Chase & Co. cut their price objective on shares of Freshpet from $154.00 to $102.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Jefferies Financial Group raised Freshpet from a "hold" rating to a "buy" rating and reduced their price target for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Oppenheimer cut Freshpet from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Piper Sandler dropped their target price on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 25th. Finally, Citigroup decreased their price target on Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has an average rating of "Moderate Buy" and a consensus price target of $148.67.

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Freshpet Stock Up 1.6 %

Shares of FRPT traded up $1.30 during mid-day trading on Monday, hitting $84.47. The company's stock had a trading volume of 935,196 shares, compared to its average volume of 760,125. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 89.86 and a beta of 1.58. The company's 50-day moving average is $115.25 and its 200-day moving average is $134.96. 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 52-week low of $80.27 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (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 business had revenue of $262.71 million for the quarter, compared to analysts' expectations of $275.46 million. On average, equities research analysts forecast that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Trading of Freshpet

Several institutional investors and hedge funds have recently bought and sold shares of FRPT. Cerity Partners LLC purchased a new position in shares of Freshpet during the third quarter worth $1,044,000. The Manufacturers Life Insurance Company grew its position in Freshpet by 2.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,848 shares of the company's stock worth $1,620,000 after purchasing an additional 336 shares during the period. Freedom Investment Management Inc. acquired a new stake in Freshpet during the 3rd quarter worth about $218,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Freshpet by 9.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,913 shares of the company's stock valued at $1,493,000 after buying an additional 966 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Freshpet by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,571 shares of the company's stock valued at $1,035,000 after buying an additional 209 shares during the period.

About Freshpet

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.