Freshpet (NASDAQ:FRPT) Price Target Cut to $120.00 by Analysts at Benchmark

Freshpet (NASDAQ:FRPT) had its target price reduced by research analysts at Benchmark from $140.00 to $120.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 47.29% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Piper Sandler lowered their price target 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. Truist Financial cut Freshpet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $80.00 in a report on Wednesday, April 30th. Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and lowered their price target for the stock from $155.00 to $150.00 in a research report on Monday, February 24th. Oppenheimer cut shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Finally, Robert W. Baird lowered their target price on shares of Freshpet from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.73.

Freshpet Price Performance

Freshpet stock traded up $2.38 during midday trading on Tuesday, reaching $81.47. 127,018 shares of the stock traded hands, compared to its average volume of 1,367,321. The stock has a market cap of $3.97 billion, a P/E ratio of 86.68 and a beta of 1.85. The stock’s fifty day moving average is $83.21 and its 200-day moving average is $123.69. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet has a 12 month low of $71.19 and a 12 month high of $164.07.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The firm had revenue of $263.25 million for the quarter, compared to the consensus estimate of $265.57 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Freshpet will post 1.55 EPS for the current year.

Institutional Trading of Freshpet

A number of hedge funds have recently bought and sold shares of FRPT. Vanguard Group Inc. raised its position in shares of Freshpet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company’s stock worth $689,090,000 after acquiring an additional 46,844 shares in the last quarter. WCM Investment Management LLC raised its holdings in Freshpet by 4.0% in the fourth quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock worth $430,809,000 after purchasing an additional 110,478 shares in the last quarter. Riverbridge Partners LLC lifted its position in shares of Freshpet by 18.0% during the first quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company’s stock valued at $85,401,000 after buying an additional 156,583 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company’s stock valued at $127,446,000 after buying an additional 9,081 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in shares of Freshpet by 5.1% in the 4th quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company’s stock worth $120,065,000 after buying an additional 39,129 shares during the last quarter.

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.