Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) shares gapped down before the market opened on Tuesday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $85.05, but opened at $82.67. Freshpet shares last traded at $83.13, with a volume of 129,061 shares changing hands.
Several other research analysts have also issued reports on FRPT. Wells Fargo & Company reduced 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. Piper Sandler lowered their price target on Freshpet from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on shares of Freshpet from $154.00 to $102.00 and set an "overweight" rating for the company in a report on Monday. Stifel Nicolaus lowered 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. Finally, Truist Financial reissued a "buy" rating and issued a $140.00 price target (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Freshpet presently has a consensus rating of "Moderate Buy" and an average target price of $151.67.
Get Our Latest Stock Analysis on Freshpet
Institutional Investors Weigh In On Freshpet
Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Freshpet during the fourth quarter worth $75,253,000. Allspring Global Investments Holdings LLC grew its position in shares of Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock valued at $55,065,000 after acquiring an additional 253,679 shares during the period. Point72 Asset Management L.P. grew its position in shares of Freshpet by 391.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company's stock valued at $32,090,000 after acquiring an additional 186,889 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Freshpet by 54.4% during the 3rd 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 last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Freshpet by 267.0% in the 4th quarter. Renaissance Technologies LLC now owns 155,596 shares of the company's stock valued at $23,045,000 after purchasing an additional 113,200 shares during the period.
Freshpet Price Performance
The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 92.02 and a beta of 1.58. The company's 50 day moving average is $133.04 and its 200-day moving average is $139.94.
Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Equities research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current year.
About Freshpet
(
Get Free Report)
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.
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