JPMorgan Chase & Co. Cuts Freshpet (NASDAQ:FRPT) Price Target to $102.00

Freshpet (NASDAQ:FRPT) had its price target lowered by JPMorgan Chase & Co. from $154.00 to $102.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently weighed in on FRPT. Truist Financial reissued a “buy” rating and issued a $140.00 target price (down previously from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. Oppenheimer lowered their price objective on Freshpet from $180.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and cut their price objective for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Citigroup decreased their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Piper Sandler dropped their price target on Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.67.

Freshpet Stock Performance

Freshpet stock opened at $86.77 on Monday. Freshpet has a 12-month low of $80.27 and a 12-month high of $164.07. The firm’s fifty day moving average price is $134.27 and its 200 day moving average price is $140.31. 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 company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 92.31 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. On average, research analysts forecast that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

A number of institutional investors have recently bought and sold shares of FRPT. Elequin Capital LP purchased a new stake in shares of Freshpet in the fourth quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its stake in Freshpet by 302.0% in the 4th 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 period. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet in the 3rd quarter worth approximately $32,000. Jones Financial Companies Lllp boosted its stake in shares of Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after buying an additional 123 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Freshpet during the 4th quarter valued at $39,000.

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.