Freshpet (NASDAQ:FRPT) Stock Price Up 4.3% – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT)’s stock price was up 4.3% during trading on Friday . The stock traded as high as $89.34 and last traded at $90.20. Approximately 221,088 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,274,653 shares. The stock had previously closed at $86.50.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Piper Sandler dropped their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Truist Financial reaffirmed a “buy” rating and set a $140.00 target price (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Stifel Nicolaus cut their price target on shares of Freshpet from $155.00 to $135.00 and set a “buy” rating for the company in a report on Monday. Finally, Wells Fargo & Company dropped their price target on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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 firm has a market capitalization of $4.26 billion, a PE ratio of 93.04 and a beta of 1.58. The firm’s 50-day moving average price is $131.88 and its two-hundred day moving average price is $139.57.

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

Institutional Investors Weigh In On Freshpet

A number of large investors have recently bought and sold shares of the business. Elequin Capital LP bought a new position in shares of Freshpet in the 4th quarter worth $29,000. Geneos Wealth Management Inc. grew its stake in shares of Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after acquiring an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freshpet in the third quarter valued at approximately $32,000. Jones Financial Companies Lllp boosted its holdings in Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 123 shares during the last quarter. Finally, R Squared Ltd bought 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.