Freshpet (NASDAQ:FRPT) Stock Price Down 3.2% Following Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT)’s stock price was down 3.2% on Tuesday after Piper Sandler lowered their price target on the stock from $160.00 to $145.00. Piper Sandler currently has an overweight rating on the stock. Freshpet traded as low as $85.42 and last traded at $85.95. 183,862 shares changed hands during trading, a decline of 87% from the average session volume of 1,450,447 shares. The stock had previously closed at $88.76.

FRPT has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Oppenheimer cut shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and reduced their target price for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Stifel Nicolaus lowered their price target on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Wells Fargo & Company reduced their price objective on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Natixis Advisors LLC acquired a new stake in shares of Freshpet in the 3rd quarter worth $1,433,000. Charles Schwab Investment Management Inc. lifted its position in Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after purchasing an additional 154,909 shares during the period. Cerity Partners LLC purchased a new stake in shares of Freshpet in the third quarter worth about $1,044,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Freshpet by 12.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 6,943 shares of the company’s stock worth $949,000 after purchasing an additional 795 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Freshpet by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,848 shares of the company’s stock valued at $1,620,000 after buying an additional 336 shares during the period.

Freshpet Price Performance

The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $120.98 and a 200 day moving average price of $136.47. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 90.74 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business 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, equities research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Freshpet Company Profile

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.