Freshpet (NASDAQ:FRPT) Stock Price Down 3.2% on Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) fell 3.2% on Tuesday after Piper Sandler lowered their price target on the stock from $160.00 to $145.00. Piper Sandler currently has an overweight rating on the stock. Freshpet traded as low as $85.42 and last traded at $85.95. 183,862 shares were traded during trading, a decline of 87% from the average session volume of 1,450,447 shares. The stock had previously closed at $88.76.

Several other research analysts also recently weighed in on the stock. Oppenheimer downgraded shares of Freshpet from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Citigroup decreased their price target on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a research note on Wednesday, February 12th. 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 decreased their price target on Freshpet from $155.00 to $135.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $150.67.

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Institutional Trading of Freshpet

Several large investors have recently bought and sold shares of FRPT. Charles Schwab Investment Management Inc. grew its stake in Freshpet by 54.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company's stock worth $60,135,000 after purchasing an additional 154,909 shares during the period. Cerity Partners LLC purchased a new stake in shares of Freshpet in the 3rd quarter worth about $1,044,000. Dynamic Technology Lab Private Ltd increased its stake in shares of Freshpet by 12.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 6,943 shares of the company's stock worth $949,000 after acquiring an additional 795 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Freshpet by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,848 shares of the company's stock worth $1,620,000 after acquiring an additional 336 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Freshpet in the 3rd quarter worth approximately $54,000.

Freshpet Trading Down 2.7 %

The stock has a market cap of $4.11 billion, a PE ratio of 89.73 and a beta of 1.58. The firm has a 50-day moving average price of $119.62 and a 200-day moving average price of $136.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The company 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%. As a group, equities analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

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.