Freshpet (NASDAQ:FRPT) Given New $140.00 Price Target at Oppenheimer

Freshpet (NASDAQ:FRPT) had its price target dropped by research analysts at Oppenheimer from $180.00 to $140.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 30.79% from the stock’s previous close.

A number of other brokerages have also weighed in on FRPT. TD Cowen lifted their price objective on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price objective on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company dropped 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. Finally, Citigroup dropped their price target 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 research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.47.

Freshpet Stock Performance

NASDAQ:FRPT opened at $107.04 on Monday. The business’s 50-day moving average price is $143.97 and its two-hundred day moving average price is $142.83. Freshpet has a twelve month low of $97.48 and a twelve month high of $164.07. The stock has a market cap of $5.21 billion, a P/E ratio of 113.87 and a beta of 1.42. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share 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 analysts’ expectations of $275.46 million. As a group, equities analysts predict that Freshpet will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the transaction, the president now owns 122,380 shares in the company, valued at $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FRPT. WCM Investment Management LLC raised its stake in shares of Freshpet by 749.7% in the third quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the last quarter. Norges Bank purchased a new position in shares of Freshpet in the fourth quarter worth $75,253,000. Allspring Global Investments Holdings LLC raised its stake in shares of Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after purchasing an additional 253,679 shares during the last quarter. Point72 Asset Management L.P. increased its position in Freshpet by 391.5% during the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after acquiring an additional 154,909 shares during the last quarter.

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.