Freshpet (NASDAQ:FRPT) Trading 2% Higher – Still a Buy?

Freshpet, Inc. (NASDAQ:FRPT) shares were up 2% during mid-day trading on Wednesday . The stock traded as high as $88.29 and last traded at $85.48. Approximately 334,982 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,270,736 shares. The stock had previously closed at $83.78.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FRPT shares. Piper Sandler cut their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Citigroup cut their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Truist Financial reissued a “buy” rating and issued a $140.00 price target (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company cut their price target on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.67.

Freshpet Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The stock’s fifty day moving average is $131.88 and its 200-day moving average is $139.57. The stock has a market cap of $4.31 billion, a PE ratio of 94.17 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The company had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. As a group, equities analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FRPT. Atria Investments Inc lifted its position in Freshpet by 5.5% in the third quarter. Atria Investments Inc now owns 5,049 shares of the company’s stock valued at $691,000 after buying an additional 265 shares during the last quarter. Versor Investments LP purchased a new position in shares of Freshpet in the third quarter valued at approximately $300,000. Entropy Technologies LP boosted its stake in shares of Freshpet by 34.3% in the third quarter. Entropy Technologies LP now owns 4,309 shares of the company’s stock valued at $589,000 after purchasing an additional 1,101 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Freshpet by 2.6% in the third quarter. Baillie Gifford & Co. now owns 51,331 shares of the company’s stock valued at $7,021,000 after purchasing an additional 1,318 shares during the period. Finally, KBC Group NV boosted its stake in shares of Freshpet by 0.8% in the third quarter. KBC Group NV now owns 24,869 shares of the company’s stock valued at $3,401,000 after purchasing an additional 186 shares during the period.

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.