Freshpet (NASDAQ:FRPT) Price Target Cut to $110.00 by Analysts at Truist Financial

Freshpet (NASDAQ:FRPT) had its target price reduced by Truist Financial from $140.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 30.35% from the stock’s current price.

FRPT has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company reduced their target price 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. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and decreased their price target for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Piper Sandler dropped their price objective on Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus reduced their price objective on Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and a consensus price target of $148.67.

Freshpet Trading Down 2.6 %

Shares of FRPT opened at $84.39 on Monday. Freshpet has a twelve month low of $80.27 and a twelve month high of $164.07. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $118.17 and its 200-day simple moving average is $135.75. The company has a market cap of $4.11 billion, a P/E ratio of 89.78 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. As a group, analysts expect that Freshpet will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Elequin Capital LP purchased a new position in Freshpet in the fourth quarter worth $29,000. Geneos Wealth Management Inc. boosted its position in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Freshpet during the 3rd quarter worth $32,000. Jones Financial Companies Lllp grew its stake in Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after buying an additional 123 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Freshpet during the 4th quarter valued at about $39,000.

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.