Freshpet (NASDAQ:FRPT) Given New $110.00 Price Target at Truist Financial

Freshpet (NASDAQ:FRPT) had its target price lowered by Truist Financial from $140.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

FRPT has been the topic of several other reports. JPMorgan Chase & Co. cut their price target on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and lowered their target price for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. Wells Fargo & Company cut their price target on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Citigroup lowered their price objective on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Piper Sandler cut their target price on Freshpet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.53.

Freshpet Trading Up 1.5 %

Shares of Freshpet stock opened at $85.73 on Monday. Freshpet has a twelve month low of $80.27 and a twelve month high of $164.07. 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 business has a 50-day moving average price of $113.80 and a 200-day moving average price of $134.61. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 91.20 and a beta of 1.80.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $262.71 million for the quarter, compared to analysts’ expectations of $275.46 million. Equities research analysts anticipate that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FRPT. Lecap Asset Management Ltd. bought a new stake in Freshpet in the fourth quarter valued at approximately $817,000. Principal Financial Group Inc. lifted its stake in Freshpet by 36.4% in the fourth quarter. Principal Financial Group Inc. now owns 107,657 shares of the company’s stock valued at $15,945,000 after buying an additional 28,743 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Freshpet by 4.7% during the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after acquiring an additional 37,287 shares in the last quarter. Victory Capital Management Inc. lifted its position in Freshpet by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 135,629 shares of the company’s stock valued at $20,088,000 after acquiring an additional 2,291 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Freshpet by 198.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after purchasing an additional 253,679 shares during the period.

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.