Freshpet (NASDAQ:FRPT) Sets New 12-Month Low on Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT) shares hit a new 52-week low during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $155.00 to $135.00. Stifel Nicolaus currently has a buy rating on the stock. Freshpet traded as low as $88.97 and last traded at $89.16, with a volume of 911470 shares traded. The stock had previously closed at $96.86.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company decreased their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Citigroup decreased their price objective on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial reissued a “buy” rating and set a $140.00 target price (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and a consensus target price of $151.67.

Hedge Funds Weigh In On Freshpet

Hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Freshpet in the third quarter valued at approximately $57,000. Atria Investments Inc increased its holdings in Freshpet by 5.5% in the 3rd quarter. Atria Investments Inc now owns 5,049 shares of the company’s stock worth $691,000 after acquiring an additional 265 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Freshpet during the third quarter worth $1,465,000. TimesSquare Capital Management LLC lifted its holdings in Freshpet by 38.2% during the third quarter. TimesSquare Capital Management LLC now owns 199,592 shares of the company’s stock valued at $27,298,000 after purchasing an additional 55,200 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Freshpet during the third quarter valued at $300,000.

Freshpet Trading Down 6.8 %

The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 95.93 and a beta of 1.58. The company’s 50-day moving average price is $136.84 and its 200-day moving average price is $141.04. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. Equities analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

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.