Freshpet (NASDAQ:FRPT) Trading Up 5.5%

Freshpet, Inc. (NASDAQ:FRPTGet Rating) was up 5.5% during mid-day trading on Friday . The stock traded as high as $48.21 and last traded at $47.98. Approximately 39,158 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,107,233 shares. The stock had previously closed at $45.47.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FRPT shares. Credit Suisse Group cut their target price on Freshpet from $65.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, September 8th. Stephens cut their target price on Freshpet from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 9th. Truist Financial cut Freshpet from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Stifel Nicolaus cut their price objective on Freshpet from $135.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Finally, Citigroup cut their price objective on Freshpet from $40.00 to $32.00 and set a “sell” rating on the stock in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.38.

Freshpet Stock Down 0.8 %

The company’s fifty day moving average price is $46.36 and its 200-day moving average price is $67.40. The stock has a market capitalization of $2.16 billion, a PE ratio of -41.13 and a beta of 0.92. The company has a quick ratio of 5.56, a current ratio of 6.42 and a debt-to-equity ratio of 0.06.

Freshpet (NASDAQ:FRPTGet Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.31). Freshpet had a negative return on equity of 6.21% and a negative net margin of 9.86%. The firm had revenue of $146.01 million during the quarter, compared to analysts’ expectations of $147.89 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Freshpet’s revenue was up 34.4% on a year-over-year basis. Analysts forecast that Freshpet, Inc. will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently added to or reduced their stakes in the company. Amundi raised its holdings in Freshpet by 65.1% in the 2nd quarter. Amundi now owns 2,571 shares of the company’s stock worth $118,000 after acquiring an additional 1,014 shares during the last quarter. Captrust Financial Advisors raised its holdings in Freshpet by 78.7% in the 2nd quarter. Captrust Financial Advisors now owns 4,526 shares of the company’s stock worth $235,000 after acquiring an additional 1,993 shares during the last quarter. Legal & General Group Plc grew its position in Freshpet by 9.6% in the 2nd quarter. Legal & General Group Plc now owns 41,753 shares of the company’s stock worth $2,166,000 after purchasing an additional 3,668 shares during the period. ExodusPoint Capital Management LP bought a new stake in Freshpet in the 2nd quarter worth approximately $1,799,000. Finally, Walleye Capital LLC bought a new stake in Freshpet in the 2nd quarter worth approximately $1,817,000.

Freshpet Company Profile

(Get Rating)

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Further Reading

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