Wells Fargo & Company Lowers Freshpet (NASDAQ:FRPT) Price Target to $88.00

Freshpet (NASDAQ:FRPT) had its target price lowered by Wells Fargo & Company from $100.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 24.38% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $90.00 target price on shares of Freshpet and gave the stock a “buy” rating in a research report on Thursday, June 12th. UBS Group began coverage on shares of Freshpet in a research report on Monday, June 16th. They set a “sell” rating and a $65.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Freshpet from $91.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Piper Sandler dropped their target price on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. Finally, Truist Financial cut shares of Freshpet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $80.00 in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $119.14.

Freshpet Price Performance

NASDAQ:FRPT opened at $70.75 on Wednesday. The company has a 50-day moving average of $77.22 and a 200-day moving average of $100.70. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 228.23, a PEG ratio of 1.17 and a beta of 1.79. Freshpet has a 52 week low of $66.75 and a 52 week high of $164.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $263.25 million for the quarter, compared to analyst estimates of $265.57 million. Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. As a group, equities research analysts anticipate that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Several institutional investors have recently modified their holdings of FRPT. Banque Transatlantique SA acquired a new stake in shares of Freshpet during the 1st quarter worth approximately $25,000. Elequin Capital LP acquired a new stake in shares of Freshpet during the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp grew its position in shares of Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after buying an additional 123 shares during the period. WPG Advisers LLC bought a new position in Freshpet during the 1st quarter worth approximately $34,000. Finally, SBI Securities Co. Ltd. bought a new position in Freshpet during the 4th quarter worth approximately $43,000.

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.