Freshpet (NASDAQ:FRPT) Trading Down 2% – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT) fell 2% on Thursday . The company traded as low as $84.50 and last traded at $85.02. 154,901 shares traded hands during trading, a decline of 88% from the average session volume of 1,277,338 shares. The stock had previously closed at $86.77.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FRPT. Stifel Nicolaus reduced their price objective on Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, March 10th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Piper Sandler reduced their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Citigroup cut their target price 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, JPMorgan Chase & Co. cut their target price 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.67.

Freshpet Trading Up 1.5 %

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 business’s 50 day moving average is $131.88 and its 200 day moving average is $139.57. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 93.45 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, equities analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freshpet

Large investors have recently bought and sold shares of the stock. Elequin Capital LP acquired a new position in Freshpet in the fourth quarter valued at $29,000. Geneos Wealth Management Inc. boosted its stake in Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after acquiring an additional 151 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after acquiring an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Freshpet in the third quarter valued at $32,000. Finally, R Squared Ltd acquired a new position in Freshpet in the fourth 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.