Piper Sandler Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price objective lowered by Piper Sandler from $160.00 to $145.00 in a research report report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Citigroup lowered their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company dropped their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Stifel Nicolaus decreased their price target on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Truist Financial restated a “buy” rating and set a $140.00 price target (down previously from $170.00) on shares of Freshpet in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshpet currently has an average rating of “Moderate Buy” and an average target price of $150.67.

Freshpet Trading Down 2.9 %

FRPT opened at $86.23 on Tuesday. Freshpet has a 12 month low of $80.27 and a 12 month high of $164.07. The stock has a fifty day moving average price of $122.34 and a 200-day moving average price of $136.83. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 91.73 and a beta of 1.58. 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) last announced its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, equities research analysts anticipate that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Freshpet

Institutional investors and hedge funds have recently bought and sold shares of the business. Elequin Capital LP purchased a new position in shares of Freshpet during the 4th quarter valued at about $29,000. Geneos Wealth Management Inc. grew its holdings in Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after acquiring an additional 151 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Freshpet during the third quarter valued at approximately $32,000. Jones Financial Companies Lllp lifted its holdings in Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after acquiring an additional 123 shares during the period. Finally, R Squared Ltd acquired a new position in Freshpet in the fourth quarter valued at approximately $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.