Freshpet (NASDAQ:FRPT) Cut to “Hold” at TD Cowen

TD Cowen lowered shares of Freshpet (NASDAQ:FRPT) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has $96.00 price target on the stock.

FRPT has been the topic of several other research reports. Benchmark reduced their target price on shares of Freshpet from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their price target on shares of Freshpet from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Oppenheimer cut shares of Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Citigroup lowered their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Truist Financial cut shares of Freshpet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $80.00 in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and a consensus target price of $127.86.

Freshpet Price Performance

Shares of FRPT stock opened at $79.49 on Wednesday. The stock’s fifty day moving average is $80.07 and its 200-day moving average is $116.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock has a market capitalization of $3.88 billion, a PE ratio of 84.56 and a beta of 1.85. Freshpet has a 52 week low of $71.19 and a 52 week high of $164.07.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $263.25 million for the quarter, compared to the consensus estimate of $265.57 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. Freshpet’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. Equities research analysts expect that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its position in shares of Freshpet by 3.2% in the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock worth $333,000 after purchasing an additional 70 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Freshpet by 4.0% in the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock worth $313,000 after purchasing an additional 82 shares in the last quarter. Freedom Investment Management Inc. lifted its position in shares of Freshpet by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock worth $249,000 after purchasing an additional 84 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Freshpet by 0.8% in the fourth quarter. Arizona State Retirement System now owns 13,350 shares of the company’s stock worth $1,977,000 after purchasing an additional 101 shares in the last quarter. Finally, Williamson Legacy Group LLC lifted its position in shares of Freshpet by 1.6% in the fourth quarter. Williamson Legacy Group LLC now owns 6,903 shares of the company’s stock worth $1,022,000 after purchasing an additional 112 shares in 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.