Brokerages Set Freshpet, Inc. (NASDAQ:FRPT) PT at $156.47

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $151.67.

FRPT has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial reissued a “buy” rating and set a $140.00 target price (down from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Jefferies Financial Group raised Freshpet from a “hold” rating to a “buy” rating and cut their price target for the company from $155.00 to $150.00 in a report on Monday, February 24th. Wells Fargo & Company decreased their price objective on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Stifel Nicolaus lowered their price objective on Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $86.77 on Monday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 92.31 and a beta of 1.58. The business has a 50 day moving average price of $134.27 and a 200 day moving average price of $140.31. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet has a twelve month low of $80.27 and a twelve month high of $164.07.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company 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%. Research analysts predict that Freshpet will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. WCM Investment Management LLC raised its position in Freshpet by 749.7% in the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the last quarter. Norges Bank acquired a new stake in shares of Freshpet in the 4th quarter valued at $75,253,000. Allspring Global Investments Holdings LLC raised its position in shares of Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after acquiring an additional 253,679 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after acquiring an additional 186,889 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after acquiring an additional 154,909 shares during the period.

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.