Freshpet (NASDAQ:FRPT) Shares Down 17.3% – What’s Next?
by Tristan Rich · The Markets DailyShares of Freshpet, Inc. (NASDAQ:FRPT – Get Free Report) fell 17.3% on Tuesday . The stock traded as low as $53.90 and last traded at $53.4610. 1,356,053 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 1,415,757 shares. The stock had previously closed at $64.68.
Analysts Set New Price Targets
FRPT has been the topic of several research reports. Benchmark upped their price objective on Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on Freshpet from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Stephens reaffirmed an “overweight” rating and set a $90.00 price target on shares of Freshpet in a research note on Tuesday, February 24th. Piper Sandler raised their price target on Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Finally, Bank of America lifted their price objective on Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Freshpet currently has a consensus rating of “Hold” and a consensus price target of $76.88.
Get Our Latest Analysis on FRPT
Freshpet Stock Performance
The company has a current ratio of 5.54, a quick ratio of 4.57 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 2.09 and a beta of 1.66. The stock has a 50 day moving average price of $72.68 and a two-hundred day moving average price of $62.17.
Freshpet (NASDAQ:FRPT – Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. The business had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Analysts predict that Freshpet, Inc. will post 1.55 EPS for the current year.
Hedge Funds Weigh In On Freshpet
Several institutional investors have recently modified their holdings of the stock. JANA Partners Management LP boosted its position in shares of Freshpet by 4.1% in the third quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock valued at $57,763,000 after acquiring an additional 41,373 shares during the period. Segall Bryant & Hamill LLC increased its position in Freshpet by 20.4% during the second quarter. Segall Bryant & Hamill LLC now owns 75,184 shares of the company’s stock worth $5,110,000 after acquiring an additional 12,764 shares during the period. ING Groep NV bought a new position in Freshpet during the third quarter worth about $6,354,000. Western Standard LLC acquired a new stake in Freshpet in the 3rd quarter worth about $3,527,000. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new stake in Freshpet in the 2nd quarter worth about $1,257,000.
About Freshpet
Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.
Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.