Piper Sandler Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT - Get Free Report) had its target price dropped by investment analysts at Piper Sandler from $160.00 to $145.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 71.82% from the stock's previous close.

Several other equities research analysts have also issued reports on FRPT. Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price target on shares of Freshpet from $154.00 to $102.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Wells Fargo & Company lowered 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. Truist Financial reissued a "buy" rating and set a $140.00 price objective (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Finally, Stifel Nicolaus dropped their target price on shares of Freshpet from $155.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, March 10th. 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $150.67.

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Freshpet Trading Down 2.6 %

Shares of NASDAQ:FRPT opened at $84.39 on Tuesday. 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 stock's 50-day moving average is $118.17 and its 200-day moving average is $135.76. The company has a market cap of $4.11 billion, a P/E ratio of 89.78 and a beta of 1.58. Freshpet has a 52-week low of $80.27 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.36. The firm had revenue of $262.71 million for 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%. Equities research analysts predict that Freshpet will post 1.55 earnings per share for the current year.

Institutional Trading of Freshpet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in Freshpet by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,084 shares of the company's stock valued at $1,049,000 after purchasing an additional 1,272 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Freshpet in the 4th quarter valued at $14,678,000. Forum Financial Management LP acquired a new position in shares of Freshpet during the 4th quarter worth $215,000. Public Employees Retirement System of Ohio lifted its position in shares of Freshpet by 24.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,129 shares of the company's stock worth $7,573,000 after buying an additional 10,009 shares during the last quarter. Finally, Elequin Capital LP bought a new stake in shares of Freshpet during the 4th quarter worth $29,000.

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.