Piper Sandler Cuts Freshpet (NASDAQ:FRPT) Price Target to $145.00

Freshpet (NASDAQ:FRPT) had its price objective cut by equities research analysts at Piper Sandler from $160.00 to $145.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 69.99% from the company’s current price.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. decreased their price objective on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Stifel Nicolaus dropped their price objective on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a report on Monday, March 10th. Truist Financial reiterated a “buy” rating and set a $140.00 price target (down previously from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price objective on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. One investment 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 an average target price of $150.67.

Freshpet Stock Performance

Freshpet stock opened at $85.30 on Tuesday. The stock has a 50-day simple moving average of $120.98 and a 200 day simple moving average of $136.47. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 90.74 and a beta of 1.58. 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 12-month low of $80.27 and a 12-month high of $164.07.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $275.46 million. On average, research analysts anticipate that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshpet

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