Freshpet (NASDAQ:FRPT) Shares Gap Down to $55.67

Freshpet, Inc. (NASDAQ:FRPT – Get Rating)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $55.67, but opened at $47.18. Freshpet shares last traded at $49.14, with a volume of 1,026,274 shares trading hands.

Analyst Ratings Changes

FRPT has been the topic of several analyst reports. Credit Suisse Group raised their price target on shares of Freshpet from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Stephens raised their price objective on shares of Freshpet from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. Benchmark reiterated a “buy” rating and set a $100.00 price objective on shares of Freshpet in a research note on Tuesday, February 28th. Cowen lowered their price objective on shares of Freshpet from $82.00 to $80.00 in a research note on Friday, January 6th. Finally, Robert W. Baird raised their price objective on shares of Freshpet from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and an average price target of $75.50.

Freshpet Stock Up 6.6 %

The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -44.82 and a beta of 1.00. The company’s 50-day simple moving average is $61.79 and its 200-day simple moving average is $57.25.

Freshpet (NASDAQ:FRPT – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Freshpet had a negative net margin of 9.99% and a negative return on equity of 6.26%. The firm had revenue of $165.80 million for the quarter, compared to analyst estimates of $151.34 million. During the same quarter in the previous year, the business posted ($0.21) earnings per share. The firm’s quarterly revenue was up 43.1% compared to the same quarter last year. As a group, analysts expect that Freshpet, Inc. will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Armistice Capital LLC boosted its stake in Freshpet by 242.0% in the 3rd quarter. Armistice Capital LLC now owns 2,736,000 shares of the company’s stock worth $137,046,000 after purchasing an additional 1,936,000 shares during the period. Champlain Investment Partners LLC boosted its stake in Freshpet by 56.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 3,670,870 shares of the company’s stock worth $190,481,000 after purchasing an additional 1,322,810 shares during the period. FMR LLC boosted its stake in Freshpet by 214.1% in the 2nd quarter. FMR LLC now owns 1,865,620 shares of the company’s stock worth $96,807,000 after purchasing an additional 1,271,638 shares during the period. William Blair Investment Management LLC acquired a new position in Freshpet in the 4th quarter worth approximately $65,921,000. Finally, Macquarie Group Ltd. boosted its stake in Freshpet by 74.9% in the 3rd quarter. Macquarie Group Ltd. now owns 1,800,024 shares of the company’s stock worth $90,189,000 after purchasing an additional 771,138 shares during the period.

About Freshpet

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Freshpet, Inc is engaged in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. The firm foods are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.