Freshpet (NASDAQ:FRPT) Price Target Cut to $70.00 by Analysts at Jefferies Financial Group

Freshpet (NASDAQ:FRPT) had its target price decreased by Jefferies Financial Group from $75.00 to $70.00 in a report published on Wednesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other analysts have also issued reports on FRPT. Stifel Nicolaus decreased their price target on Freshpet from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price target on Freshpet from $90.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Freshpet in a research note on Monday. Bank of America decreased their price target on Freshpet from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Finally, Benchmark lifted their price objective on Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.44.

Freshpet Stock Up 1.7%

Shares of NASDAQ:FRPT opened at $65.96 on Wednesday. The stock’s 50-day moving average price is $70.24 and its two-hundred day moving average price is $63.68. The company has a current ratio of 5.54, a quick ratio of 4.57 and a debt-to-equity ratio of 0.35. Freshpet has a 12-month low of $46.76 and a 12-month high of $89.80. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 25.67 and a beta of 1.78.

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

Hedge Funds Weigh In On Freshpet

Hedge funds and other institutional investors have recently modified their holdings of the company. JANA Partners Management LP lifted its stake in shares of Freshpet by 4.1% in the 3rd quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock valued at $57,763,000 after purchasing an additional 41,373 shares in the last quarter. ING Groep NV acquired a new position in shares of Freshpet in the 3rd quarter valued at about $6,354,000. Western Standard LLC acquired a new position in shares of Freshpet in the 3rd quarter valued at about $3,527,000. Deepwater Asset Management LLC lifted its stake in shares of Freshpet by 14.3% in the 3rd quarter. Deepwater Asset Management LLC now owns 190,301 shares of the company’s stock valued at $10,487,000 after purchasing an additional 23,768 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Freshpet by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 190,296 shares of the company’s stock valued at $10,487,000 after purchasing an additional 24,045 shares in 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.