Freshpet (NASDAQ:FRPT) Price Target Cut to $65.00 by Analysts at Wells Fargo & Company

Freshpet (NASDAQ:FRPT) had its price objective reduced by Wells Fargo & Company from $88.00 to $65.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently issued reports on FRPT. Truist Financial reduced their price objective on Freshpet from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, August 5th. UBS Group reduced their price objective on Freshpet from $65.00 to $48.00 and set a “sell” rating on the stock in a research note on Monday, September 8th. DA Davidson set a $101.00 target price on Freshpet in a research report on Thursday, August 7th. TD Cowen downgraded Freshpet from a “buy” rating to a “hold” rating and set a $96.00 target price on the stock. in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised Freshpet from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.43.

Freshpet Stock Performance

NASDAQ:FRPT opened at $49.25 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. Freshpet has a 1 year low of $48.41 and a 1 year high of $164.07. The stock’s 50 day simple moving average is $60.37 and its two-hundred day simple moving average is $72.14. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 73.51, a PEG ratio of 0.92 and a beta of 1.72.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.21. Freshpet had a return on equity of 4.82% and a net margin of 3.23%.The business had revenue of $264.69 million for the quarter, compared to the consensus estimate of $269.75 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Freshpet has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Freshpet will post 1.55 earnings per share for the current fiscal year.

Insider Activity at Freshpet

In other Freshpet news, Director Jacki Sue Kelley acquired 814 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average price of $56.50 per share, for a total transaction of $45,991.00. Following the acquisition, the director directly owned 11,907 shares in the company, valued at $672,745.50. The trade was a 7.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy R. Mclevish acquired 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were acquired at an average price of $56.00 per share, with a total value of $196,000.00. Following the acquisition, the director owned 35,290 shares in the company, valued at $1,976,240. This trade represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 6,008 shares of company stock worth $332,305 in the last quarter. 4.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in FRPT. Banque Transatlantique SA purchased a new stake in shares of Freshpet in the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in shares of Freshpet in the 1st quarter worth $34,000. EverSource Wealth Advisors LLC raised its position in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 shares in the last quarter. State of Wyoming bought a new position in shares of Freshpet in the 2nd quarter worth $34,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Freshpet in the 2nd quarter worth $35,000.

Freshpet Company Profile

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.