Freshpet (NASDAQ:FRPT) Price Target Lowered to $62.00 at Deutsche Bank Aktiengesellschaft

Freshpet (NASDAQ:FRPT) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $69.00 to $62.00 in a report issued on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Several other equities research analysts have also recently issued reports on FRPT. Morgan Stanley upgraded shares of Freshpet from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $71.00 to $90.00 in a research report on Tuesday, February 24th. Weiss Ratings upgraded shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 29th. Stifel Nicolaus raised their target price on shares of Freshpet from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, March 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Freshpet from $80.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Freshpet Stock Performance

NASDAQ FRPT opened at $56.60 on Monday. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35. Freshpet has a twelve month low of $46.76 and a twelve month high of $89.80. The business has a 50-day moving average price of $72.11 and a 200-day moving average price of $62.28. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.86 and a beta of 1.66.

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

Institutional Investors Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after purchasing an additional 358 shares during the period. Motiv8 Investments LLC purchased a new stake in Freshpet during the 4th quarter valued at $28,000. State of Wyoming purchased a new stake in Freshpet during the 2nd quarter valued at $34,000. Signaturefd LLC lifted its position in Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after buying an additional 296 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after buying an additional 472 shares during the last quarter.

Freshpet Company Profile

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.