Freshpet (NASDAQ:FRPT) Stock Rating Lowered by Oppenheimer

Freshpet (NASDAQ:FRPT) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

FRPT has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Truist Financial reiterated a “buy” rating and issued a $140.00 price objective (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $155.00 to $150.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Freshpet from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Monday. One 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.67.

Freshpet Price Performance

Freshpet stock opened at $86.77 on Tuesday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $134.27 and a 200 day simple moving average of $140.31. Freshpet has a 52 week low of $80.27 and a 52 week high of $164.07. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 92.31 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. On average, research analysts forecast that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Freshpet in the 4th quarter worth approximately $14,678,000. Forum Financial Management LP bought a new position in shares of Freshpet in the 4th quarter worth approximately $215,000. Public Employees Retirement System of Ohio increased its position in Freshpet by 24.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,129 shares of the company’s stock valued at $7,573,000 after buying an additional 10,009 shares in the last quarter. Elequin Capital LP bought a new position in Freshpet during the 4th quarter valued at approximately $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Freshpet by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,580 shares of the company’s stock valued at $25,857,000 after buying an additional 13,298 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.