JPMorgan Chase & Co. Cuts Freshpet (NASDAQ:FRPT) Price Target to $102.00

Freshpet (NASDAQ:FRPT) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $154.00 to $102.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.09% from the stock’s current price.

FRPT has been the topic of a number of other reports. Wells Fargo & Company lowered their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Truist Financial reiterated a “buy” rating and issued a $140.00 target price (down from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and dropped their price target for the company from $155.00 to $150.00 in a report on Monday, February 24th. StockNews.com lowered Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus decreased their price target on Freshpet from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Freshpet Price Performance

Shares of FRPT stock traded down $7.46 during midday trading on Monday, reaching $89.40. 1,400,619 shares of the company were exchanged, compared to its average volume of 1,173,140. The company’s 50 day moving average price is $136.84 and its two-hundred day moving average price is $141.04. The company has a market cap of $4.36 billion, a P/E ratio of 95.11 and a beta of 1.58. Freshpet has a 12 month low of $88.11 and a 12 month high of $164.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. On average, sell-side analysts expect that Freshpet will post 1.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in shares of Freshpet by 3.2% during the 4th quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock valued at $333,000 after buying an additional 70 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Freshpet by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after acquiring an additional 75 shares in the last quarter. Vident Advisory LLC increased its stake in shares of Freshpet by 4.0% during the 4th quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock worth $313,000 after purchasing an additional 82 shares during the last quarter. Freedom Investment Management Inc. raised its holdings in Freshpet by 5.3% during the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock valued at $249,000 after buying an additional 84 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Freshpet by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $85,000 after purchasing an additional 92 shares during 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.