Freshpet (NASDAQ:FRPT) Trading Down 2.5% – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT)’s share price was down 2.5% during mid-day trading on Thursday . The company traded as low as $94.00 and last traded at $93.63. Approximately 116,196 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,127,460 shares. The stock had previously closed at $96.06.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com lowered Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Truist Financial reiterated a “buy” rating and issued a $140.00 price objective (down from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Citigroup dropped their price target on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.47.

Freshpet Price Performance

The firm’s 50 day moving average is $138.93 and its 200 day moving average is $141.48. The firm has a market cap of $4.43 billion, a P/E ratio of 96.79 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share 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 company had revenue of $262.71 million for the quarter, compared to the consensus estimate of $275.46 million. As a group, analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently modified their holdings of the stock. Elequin Capital LP purchased a new stake in Freshpet during the 4th quarter valued at about $29,000. Geneos Wealth Management Inc. grew its holdings in shares of Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after buying an additional 151 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Freshpet during the third quarter valued at approximately $32,000. Jones Financial Companies Lllp raised its holdings in Freshpet by 130.9% in the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after acquiring an additional 123 shares during the last quarter. Finally, R Squared Ltd bought a new position in Freshpet in the 4th quarter valued at approximately $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.