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

Freshpet, Inc. (NASDAQ:FRPT) shares dropped 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. Approximately 183,862 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,450,447 shares. The stock had previously closed at $88.76.

Several other research analysts have also recently issued reports on the stock. Citigroup cut their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Stifel Nicolaus cut their price target on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. cut their target price on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Oppenheimer cut Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.67.

Institutional Investors Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elequin Capital LP bought a new position in shares of Freshpet during the fourth quarter valued at $29,000. Geneos Wealth Management Inc. raised its stake in Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after buying an additional 151 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet in the third quarter worth about $32,000. Jones Financial Companies Lllp lifted its holdings in Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Freshpet during the 4th quarter valued at $39,000.

Freshpet Stock Performance

The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.16 billion, a P/E ratio of 90.74 and a beta of 1.58. The business has a 50 day moving average price of $120.98 and a two-hundred day moving average price of $136.47.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share (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 analysts’ expectations of $275.46 million. On average, sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share 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.