JPMorgan Chase & Co. Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $80.00 to $66.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 13.57% from the stock’s previous close.

Several other research analysts have also recently weighed in on FRPT. Weiss Ratings upgraded shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft cut shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research note on Monday, December 15th. Stephens reissued an “overweight” rating and issued a $90.00 price target on shares of Freshpet in a report on Tuesday, February 24th. TD Cowen restated a “hold” rating on shares of Freshpet in a research report on Tuesday, March 17th. Finally, Piper Sandler lifted their price objective on shares of Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.00.

Freshpet Price Performance

Freshpet stock traded down $0.82 during midday trading on Wednesday, hitting $58.11. 435,737 shares of the company’s stock were exchanged, compared to its average volume of 1,468,405. Freshpet has a 52-week low of $46.76 and a 52-week high of $89.80. The stock has a 50-day moving average price of $72.58 and a two-hundred day moving average price of $62.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.57 and a current ratio of 5.54. The company has a market cap of $2.85 billion, a P/E ratio of 22.47, a PEG ratio of 2.12 and a beta of 1.66.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.21. The firm had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. On average, equities research analysts forecast that Freshpet will post 1.55 earnings per share for the current year.

Institutional Trading of Freshpet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of Freshpet in the 4th quarter worth approximately $28,000. Signaturefd LLC boosted its stake in shares of Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after purchasing an additional 296 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after purchasing an additional 197 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Freshpet by 445.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after purchasing an additional 432 shares during the last quarter.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.