Freshpet (NASDAQ:FRPT) Trading 1.8% Higher – Still a Buy?

Freshpet, Inc. (NASDAQ:FRPT)’s share price was up 1.8% during mid-day trading on Thursday . The stock traded as high as $86.95 and last traded at $87.26. Approximately 181,876 shares traded hands during trading, a decline of 74% from the average daily volume of 695,447 shares. The stock had previously closed at $85.70.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FRPT. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Citigroup reduced their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler reduced their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped 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. One equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.67.

Freshpet Trading Up 0.7 %

The firm has a market cap of $4.21 billion, a P/E ratio of 91.57 and a beta of 1.58. The company’s 50 day simple moving average is $127.16 and its 200-day simple moving average is $138.23. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm 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, research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Large investors have recently modified their holdings of the business. Elequin Capital LP acquired a new stake in Freshpet in the fourth quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its stake in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Freshpet in the 3rd quarter valued at about $32,000. Jones Financial Companies Lllp increased its holdings in shares of 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 purchasing an additional 123 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Freshpet during the fourth quarter worth $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.