Freshpet (NASDAQ:FRPT) Shares Gap Down Following Analyst Downgrade

Freshpet, Inc. (NASDAQ:FRPT)’s share price gapped down prior to trading on Tuesday after Oppenheimer downgraded the stock from an outperform rating to a market perform rating. The stock had previously closed at $85.05, but opened at $82.67. Freshpet shares last traded at $83.13, with a volume of 129,061 shares changing hands.

Other equities research analysts have also issued reports about the company. Truist Financial reaffirmed a “buy” rating and issued a $140.00 target price (down from $170.00) on shares of Freshpet in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler reduced their target price on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Citigroup reduced their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $151.67.

Hedge Funds Weigh In On Freshpet

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp lifted its holdings in shares of Freshpet by 3.2% during the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock valued at $333,000 after purchasing an additional 70 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Freshpet by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after acquiring an additional 75 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Freshpet by 4.0% during the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock valued at $313,000 after acquiring an additional 82 shares during the period. Freedom Investment Management Inc. lifted its position in shares of Freshpet by 5.3% in the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock valued at $249,000 after acquiring an additional 84 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Freshpet by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after purchasing an additional 92 shares during the period.

Freshpet Stock Performance

The firm’s 50-day simple moving average is $136.84 and its two-hundred day simple moving average is $141.04. 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 stock has a market capitalization of $4.01 billion, a PE ratio of 87.55 and a beta of 1.58.

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

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.