Freshpet (NASDAQ:FRPT) Shares Up 1.8% – What’s Next?

Freshpet, Inc. (NASDAQ:FRPT) rose 1.8% during mid-day trading on Thursday . The stock traded as high as $86.95 and last traded at $87.26. Approximately 181,876 shares were traded during trading, a decline of 74% from the average daily volume of 695,447 shares. The stock had previously closed at $85.70.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial reiterated a “buy” rating and issued a $140.00 target price (down from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Stifel Nicolaus cut their target price on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. 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, JPMorgan Chase & Co. dropped their price target on Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.67.

Freshpet Stock Performance

The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.22 billion, a P/E ratio of 92.17 and a beta of 1.58. The firm’s 50-day moving average is $124.80 and its two-hundred day moving average is $137.53.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $275.46 million. As a group, research analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Institutional Trading of Freshpet

Several institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC acquired a new stake in shares of Freshpet in the 3rd quarter valued at $1,433,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Freshpet by 31.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,713 shares of the company’s stock valued at $13,091,000 after buying an additional 22,651 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Freshpet by 23.0% in the third quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock valued at $101,000 after buying an additional 138 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after buying an additional 154,909 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Freshpet by 529.5% during the third quarter. Icon Wealth Advisors LLC now owns 13,200 shares of the company’s stock worth $1,805,000 after buying an additional 11,103 shares in the last quarter.

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.