Freshpet (NASDAQ:FRPT) Price Target Lowered to $115.00 at Stifel Nicolaus

Freshpet (NASDAQ:FRPT) had its target price reduced by analysts at Stifel Nicolaus from $135.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 44.75% from the company’s previous close.

A number of other brokerages have also commented on FRPT. Wells Fargo & Company cut their price target on Freshpet from $142.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Citigroup cut their price target on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler cut their price target on Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. cut their price target on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.20.

Freshpet Price Performance

Freshpet stock traded down $3.43 during midday trading on Thursday, reaching $79.45. The company’s stock had a trading volume of 290,217 shares, compared to its average volume of 781,526. Freshpet has a 52 week low of $72.90 and a 52 week high of $164.07. 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 business has a 50-day moving average price of $102.50 and a 200-day moving average price of $131.67. The stock has a market cap of $3.87 billion, a PE ratio of 84.52 and a beta of 1.80.

Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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. On average, sell-side analysts predict that Freshpet will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP bought a new stake in shares of Freshpet during the fourth quarter valued at approximately $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 buying an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freshpet during the third quarter worth $32,000. Jones Financial Companies Lllp grew its holdings in Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after buying an additional 123 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Freshpet in 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.