Freshpet (NASDAQ:FRPT) Hits New 1-Year Low Following Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $102.00 to $91.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Freshpet traded as low as $72.90 and last traded at $82.88, with a volume of 1685395 shares changing hands. The stock had previously closed at $74.13.

Several other research firms also recently weighed in on FRPT. Oppenheimer downgraded shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Truist Financial dropped their price target on shares of Freshpet from $140.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Stifel Nicolaus cut their price target on Freshpet from $135.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler lowered their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Finally, Citigroup cut their target price on Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued 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 target price of $144.47.

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Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP bought a new stake in Freshpet during the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its position 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 purchasing an additional 151 shares in the last quarter. Jones Financial Companies Lllp grew 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 purchasing an additional 123 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Freshpet in the third quarter worth $32,000. Finally, R Squared Ltd purchased a new position in Freshpet during the fourth quarter valued at $39,000.

Freshpet Trading Up 2.6 %

The stock's fifty day moving average price is $99.37 and its 200 day moving average price is $130.82. The stock has a market cap of $3.91 billion, a P/E ratio of 85.31 and a beta of 1.80. 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 (NASDAQ:FRPT - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting 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 the consensus estimate of $275.46 million. Equities research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

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.