Freshpet (NASDAQ:FRPT) Hits New 12-Month Low - Here's What Happened

Shares of Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $77.15 and last traded at $79.49, with a volume of 1749998 shares trading hands. The stock had previously closed at $81.20.

Wall Street Analyst Weigh In

Several analysts have issued reports on FRPT shares. Truist Financial dropped their target price on Freshpet from $140.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Citigroup cut their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and decreased their price target for the company from $155.00 to $150.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Freshpet from $102.00 to $91.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Piper Sandler lowered their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Freshpet has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Freshpet Trading Down 5.6 %

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 has a market cap of $3.81 billion, a PE ratio of 83.55 and a beta of 1.80. The company's fifty day moving average is $102.50 and its 200-day moving average is $131.67.

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Freshpet (NASDAQ:FRPT - Get Free Report) last issued its 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 firm had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. On average, analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently modified their holdings of the company. Elequin Capital LP acquired a new position in Freshpet in the 4th quarter worth about $29,000. Geneos Wealth Management Inc. increased its position in shares of Freshpet by 302.0% in 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Freshpet during the 3rd quarter worth approximately $32,000. Jones Financial Companies Lllp lifted 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 valued at $32,000 after buying an additional 123 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Freshpet in the 4th quarter valued at $39,000.

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.