Freshpet (NASDAQ:FRPT) Trading Down 4.3% – What’s Next?

Shares of Freshpet, Inc. (NASDAQ:FRPT) were down 4.3% on Tuesday . The company traded as low as $60.22 and last traded at $60.3550. Approximately 443,821 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,369,118 shares. The stock had previously closed at $63.04.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FRPT shares. Deutsche Bank Aktiengesellschaft lowered Freshpet from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Monday, December 15th. Robert W. Baird decreased their price objective on shares of Freshpet from $100.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $56.00 target price on shares of Freshpet in a report on Tuesday, November 4th. Wells Fargo & Company reduced their price target on shares of Freshpet from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, Truist Financial lowered their price objective on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $82.63.

Freshpet Price Performance

The stock has a market cap of $2.95 billion, a P/E ratio of 26.36, a PEG ratio of 1.59 and a beta of 1.72. The company has a 50 day simple moving average of $58.10 and a 200 day simple moving average of $60.37. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 3rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $0.43 by $1.43. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The business had revenue of $288.85 million during the quarter, compared to analysts’ expectations of $283.73 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In related news, President Scott James Morris sold 5,142 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $62.33, for a total transaction of $320,500.86. Following the sale, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. This represents a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of Freshpet in the 1st quarter valued at about $25,000. Parallel Advisors LLC lifted its position in shares of 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. WPG Advisers LLC bought a new position in shares of Freshpet during the 1st quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its holdings in shares of Freshpet by 1,388.2% during 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 during the last quarter. Finally, State of Wyoming bought a new stake in Freshpet in the 2nd quarter valued at $34,000.

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.