Freshpet (NASDAQ:FRPT) Price Target Raised to $93.00

Freshpet (NASDAQ:FRPT) had its price target lifted by Benchmark from $90.00 to $93.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on FRPT. Deutsche Bank Aktiengesellschaft cut Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Monday, December 15th. Wells Fargo & Company increased their target price on Freshpet from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Piper Sandler raised their target price on Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. DA Davidson set a $98.00 target price on Freshpet in a research report on Wednesday, February 25th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Freshpet in a research note on Tuesday, March 17th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Freshpet Trading Up 2.0%

Shares of NASDAQ FRPT opened at $60.10 on Monday. Freshpet has a fifty-two week low of $46.76 and a fifty-two week high of $89.80. The firm has a market capitalization of $2.95 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.93 and a beta of 1.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.57. The company’s 50 day simple moving average is $72.52 and its 200 day simple moving average is $62.18.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. The firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, analysts predict that Freshpet will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new position in Freshpet in the 4th quarter worth $757,000. Corient Private Wealth LLC acquired a new stake in shares of Freshpet in the 4th quarter valued at about $227,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Freshpet by 606.8% in the 4th 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. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Freshpet by 68.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,110 shares of the company’s stock valued at $555,000 after purchasing an additional 3,705 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Freshpet in the fourth quarter valued at about $361,000.

More Freshpet News

Here are the key news stories impacting Freshpet this week:

• Positive Sentiment: Analysts say competitive threats are overblown, which traders interpreted as supportive for Freshpet’s growth outlook. Freshpet stock gains after analysts dismisses competitive threats
• Neutral Sentiment: Zacks summarizes the recent sell?off and market action around FRPT, useful context on how newsflow has driven recent volatility. Here’s Why Freshpet (FRPT) Fell More Than Broader Market
• Negative Sentiment: A plaintiff law firm (Levi & Korsinsky) says it opened a securities?law investigation into Freshpet following an NAD ruling tied to a competitor challenge — this raises legal and disclosure risk. Fraud Investigation Opened: Levi & Korsinsky Investigates Freshpet
• Negative Sentiment: Pomerantz (another firm) has issued an investor alert and is investigating claims on behalf of shareholders, adding to legal overhang and potential litigation risk. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims
• Negative Sentiment: Reports that The Farmer’s Dog launched at Walmart triggered investor concern about grocery/retail competition in the fresh pet?food category, which pressured the stock. Freshpet shares rocked by The Farmer’s Dog launch at Walmart
• Negative Sentiment: JPMorgan cut its price target to $66 and moved to a neutral rating, reducing an analyst cushion for the stock and signaling more tempered expectations. Benzinga: JPMorgan cuts price target
• Negative Sentiment: Jim Cramer noted Freshpet has been “too hot” versus peers and flagged margin disappointment, a high?profile caution that can affect retail sentiment. Jim Cramer on Freshpet, Inc.
• Neutral Sentiment: Several data posts on short interest show anomalous/zero values — watch official exchange reports for accurate short?interest trends before drawing conclusions about short pressure. (No direct link)

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.