Freshpet (NASDAQ:FRPT) Price Target Cut to $160.00 by Analysts at Piper Sandler

Freshpet (NASDAQ:FRPT) had its price objective lowered by Piper Sandler from $180.00 to $160.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

FRPT has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen increased their price objective on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Truist Financial increased their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup lowered their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $161.93.

Freshpet Stock Down 5.8 %

FRPT opened at $100.26 on Friday. Freshpet has a 1-year low of $89.15 and a 1-year high of $164.07. The stock’s fifty day simple moving average is $145.55 and its 200 day simple moving average is $142.91. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.87 billion, a PE ratio of 112.65 and a beta of 1.42.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. As a group, research analysts expect that Freshpet will post 0.89 earnings per share for the current year.

Insider Activity at Freshpet

In other news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction of $786,900.00. Following the sale, the president now directly owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Freshpet

Hedge funds have recently made changes to their positions in the company. Lecap Asset Management Ltd. acquired a new stake in shares of Freshpet during the fourth quarter valued at about $817,000. Geode Capital Management LLC boosted its stake in shares of Freshpet by 4.7% during the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after purchasing an additional 37,287 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Freshpet during the third quarter valued at about $1,465,000. Geneva Capital Management LLC boosted its stake in shares of Freshpet by 166.2% during the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after purchasing an additional 52,584 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Freshpet by 198.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock valued at $55,065,000 after purchasing an additional 253,679 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.