Freshpet (NASDAQ:FRPT) Now Covered by UBS Group

UBS Group initiated coverage on shares of Freshpet (NASDAQ:FRPT) in a research note released on Monday morning, Marketbeat Ratings reports. The firm issued a sell rating and a $65.00 price objective on the stock.

Several other equities research analysts also recently issued reports on FRPT. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the company a “buy” rating in a report on Thursday, June 12th. Piper Sandler dropped their target price on Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their price target on shares of Freshpet from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Benchmark lowered their price objective on shares of Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and dropped their price objective for the company from $155.00 to $150.00 in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $122.00.

Freshpet Price Performance

Freshpet stock opened at $71.72 on Monday. The company’s 50 day simple moving average is $78.93 and its 200-day simple moving average is $109.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.92 and a current ratio of 4.91. Freshpet has a 1 year low of $70.65 and a 1 year high of $164.07. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 231.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.86.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The company had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. During the same quarter last year, the business posted $0.37 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts expect that Freshpet will post 1.55 earnings per share for the current year.

Institutional Trading of Freshpet

Hedge funds have recently added to or reduced their stakes in the company. Congress Asset Management Co. acquired a new position in Freshpet during the 4th quarter worth approximately $298,000. Principal Securities Inc. purchased a new stake in shares of Freshpet during the 4th quarter worth $85,000. Principal Financial Group Inc. grew its stake in shares of Freshpet by 36.4% during the fourth quarter. Principal Financial Group Inc. now owns 107,657 shares of the company’s stock worth $15,945,000 after purchasing an additional 28,743 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Freshpet in the fourth quarter valued at $221,000. Finally, Truist Financial Corp increased its holdings in Freshpet by 3.1% in the fourth quarter. Truist Financial Corp now owns 7,743 shares of the company’s stock valued at $1,147,000 after buying an additional 230 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.