Freshpet (NASDAQ:FRPT) Price Target Lowered to $140.00 at Benchmark

Freshpet (NASDAQ:FRPT) had its target price cut by research analysts at Benchmark from $195.00 to $140.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 73.82% from the company’s current price.

Several other equities research analysts have also commented on FRPT. Stifel Nicolaus lowered their price objective on Freshpet from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on shares of Freshpet from $142.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on Freshpet from $102.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Truist Financial dropped their price objective on Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Oppenheimer lowered Freshpet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus target price of $143.80.

Freshpet Stock Performance

NASDAQ:FRPT traded down $0.70 during trading hours on Tuesday, hitting $80.55. 72,812 shares of the company were exchanged, compared to its average volume of 788,144. The company’s 50 day moving average price is $98.00 and its 200-day moving average price is $130.41. Freshpet has a 52-week low of $72.90 and a 52-week high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 85.51 and a beta of 1.80.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) 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 analyst estimates of $275.46 million. As a group, research analysts forecast that Freshpet will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

A number of institutional investors have recently added to or reduced their stakes in FRPT. 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 acquiring an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in 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 purchasing an additional 75 shares during the period. Vident Advisory LLC raised its stake in Freshpet by 4.0% in the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock valued at $313,000 after buying an additional 82 shares during the period. Freedom Investment Management Inc. raised its stake in Freshpet by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock valued at $249,000 after buying an additional 84 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Freshpet by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $85,000 after buying an additional 92 shares during 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.