Piper Sandler Cuts Freshpet (NASDAQ:FRPT) Price Target to $160.00

Freshpet (NASDAQ:FRPT) had its price target reduced by Piper Sandler from $180.00 to $160.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

FRPT has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Citigroup decreased their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.93.

Freshpet Trading Down 5.8 %

Shares of FRPT stock opened at $100.26 on Friday. The company has a market cap of $4.87 billion, a P/E ratio of 112.65 and a beta of 1.42. The stock has a 50 day simple moving average of $145.55 and a two-hundred day simple moving average of $142.91. 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 fifty-two week low of $89.15 and a fifty-two week high of $164.07.

Freshpet (NASDAQ:FRPT) last issued 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. The business had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. Research analysts forecast that Freshpet will post 0.89 earnings per share for the current year.

Insider Activity at Freshpet

In related news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction of $786,900.00. Following the transaction, the president now owns 122,380 shares of the company’s stock, valued at $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elequin Capital LP purchased a new position in Freshpet in the fourth quarter worth $29,000. Geneos Wealth Management Inc. boosted its position in Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Freshpet in the third quarter worth $32,000. Jones Financial Companies Lllp boosted its position in Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 123 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Freshpet in the fourth quarter worth $39,000.

Freshpet Company Profile

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.