Piper Sandler Cuts Freshpet (NASDAQ:FRPT) Price Target to $145.00

Freshpet (NASDAQ:FRPT) had its price objective reduced by Piper Sandler from $160.00 to $145.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

FRPT has been the subject of several other reports. Citigroup lowered 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. Stifel Nicolaus dropped their price target on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Truist Financial reaffirmed a “buy” rating and issued a $140.00 price objective (down from $170.00) on shares of Freshpet in a research note on Tuesday, February 25th. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and dropped their target price for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Finally, Wells Fargo & Company reduced their price target on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.67.

Freshpet Stock Performance

NASDAQ FRPT opened at $86.65 on Tuesday. The business’s 50-day moving average price is $119.62 and its 200 day moving average price is $136.12. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. Freshpet has a twelve month low of $80.27 and a twelve month high of $164.07. The company has a market capitalization of $4.22 billion, a PE ratio of 92.18 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last released its earnings results 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 net margin of 4.81% and a return on equity of 3.92%. The business had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. On average, research analysts predict that Freshpet will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Freshpet by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,084 shares of the company’s stock valued at $1,049,000 after acquiring an additional 1,272 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Freshpet during the 4th quarter valued at approximately $14,678,000. Forum Financial Management LP acquired a new stake in Freshpet during the 4th quarter valued at approximately $215,000. Public Employees Retirement System of Ohio increased its holdings in Freshpet by 24.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,129 shares of the company’s stock worth $7,573,000 after purchasing an additional 10,009 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in shares of Freshpet in the 4th quarter valued at approximately $29,000.

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.