Freshpet (NASDAQ:FRPT) Price Target Lowered to $110.00 at Truist Financial

Freshpet (NASDAQ:FRPT) had its target price reduced by equities research analysts at Truist Financial from $140.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 30.22% from the stock’s previous close.

FRPT has been the subject of several other reports. Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and dropped their target price for the company from $155.00 to $150.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. cut their target price on shares of 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 shares of Freshpet from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Piper Sandler dropped their price target on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus reduced their price objective on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.67.

Freshpet Trading Up 1.6 %

Shares of FRPT opened at $84.47 on Monday. The business’s fifty day moving average is $115.25 and its 200-day moving average is $134.96. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 89.86 and a beta of 1.58. 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 has a 52-week low of $80.27 and a 52-week high of $164.07.

Freshpet (NASDAQ:FRPT) last posted 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 firm had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. Equities analysts anticipate that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

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