Freshpet (NASDAQ:FRPT) Price Target Lowered to $140.00 at Benchmark

Freshpet (NASDAQ:FRPT) had its target price lowered by research analysts at Benchmark from $195.00 to $140.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 82.70% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Stifel Nicolaus cut their target price on shares of Freshpet from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Piper Sandler reduced their target price on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, March 25th. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and decreased their target price for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. Oppenheimer cut Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Freshpet from $102.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.80.

Freshpet Stock Performance

NASDAQ FRPT opened at $76.63 on Tuesday. The company has a fifty day moving average of $95.21 and a two-hundred day moving average of $129.68. The company has a market capitalization of $3.73 billion, a PE ratio of 81.52 and a beta of 1.80. Freshpet has a 1 year low of $72.90 and a 1 year high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. As a group, analysts expect that Freshpet will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp boosted its holdings in Freshpet by 3.2% during the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock worth $333,000 after buying an additional 70 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Freshpet by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after acquiring an additional 75 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Freshpet by 4.0% in the 4th quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock worth $313,000 after acquiring an additional 82 shares during the period. Freedom Investment Management Inc. increased its stake in Freshpet by 5.3% in the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock valued at $249,000 after purchasing an additional 84 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Freshpet by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after purchasing an additional 92 shares during the last quarter.

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.