Freshpet (NASDAQ:FRPT) Given New $142.00 Price Target at Wells Fargo & Company

Freshpet (NASDAQ:FRPT) had its target price lowered by Wells Fargo & Company from $170.00 to $142.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on FRPT. Deutsche Bank Aktiengesellschaft increased their target price on Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen increased their target price on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird increased their target price on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Citigroup dropped their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.93.

Freshpet Price Performance

Shares of Freshpet stock opened at $100.26 on Friday. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.87 billion, a PE ratio of 112.65 and a beta of 1.42. The business’s 50-day moving average price is $145.55 and its 200-day moving average price is $142.91. Freshpet has a 12 month low of $89.15 and a 12 month high of $164.07.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. Sell-side analysts forecast that Freshpet will post 0.89 EPS for the current fiscal year.

Insider Activity at Freshpet

In related news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction of $786,900.00. Following the sale, the president now directly owns 122,380 shares in the company, valued at $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in FRPT. Blue Trust Inc. boosted its position in shares of Freshpet by 2,770.4% during the third quarter. Blue Trust Inc. now owns 775 shares of the company’s stock valued at $100,000 after purchasing an additional 748 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Freshpet by 9.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 127,706 shares of the company’s stock valued at $17,466,000 after buying an additional 11,494 shares during the last quarter. Private Advisor Group LLC raised its stake in Freshpet by 29.7% during the third quarter. Private Advisor Group LLC now owns 2,316 shares of the company’s stock valued at $317,000 after buying an additional 531 shares during the last quarter. E. Ohman J or Asset Management AB raised its stake in Freshpet by 13.1% during the third quarter. E. Ohman J or Asset Management AB now owns 12,070 shares of the company’s stock valued at $1,651,000 after buying an additional 1,400 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Freshpet during the third quarter valued at $795,000.

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.