Freshpet (NASDAQ:FRPT) Price Target Lowered to $78.00 at Stifel Nicolaus

Freshpet (NASDAQ:FRPT) had its price target cut by Stifel Nicolaus from $84.00 to $78.00 in a research note released on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on FRPT. Benchmark lifted their target price on shares of Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Morgan Stanley raised shares of Freshpet from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $71.00 to $90.00 in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Freshpet from $69.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, April 8th. Finally, Piper Sandler upped their price objective on shares of Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

Freshpet Trading Down 4.8%

Shares of FRPT opened at $64.83 on Tuesday. Freshpet has a 52-week low of $46.76 and a 52-week high of $89.80. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $70.30 and its two-hundred day moving average is $63.67. The stock has a market cap of $3.18 billion, a PE ratio of 25.23 and a beta of 1.78.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.21. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The company had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.66 million. During the same quarter in the previous year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Freshpet will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Freshpet by 606.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 shares during the period. Motiv8 Investments LLC acquired a new position in Freshpet in the fourth quarter valued at about $28,000. 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 valued at $31,000 after buying an additional 296 shares during the last quarter. Parallel Advisors LLC lifted its position in Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after buying an additional 197 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Freshpet by 445.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after buying 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.