Freshpet (NASDAQ:FRPT) Shares Up 1.8% – Here’s Why

Shares of Freshpet, Inc. (NASDAQ:FRPT) were up 1.8% during mid-day trading on Thursday . The company traded as high as $86.95 and last traded at $87.26. Approximately 181,876 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 695,447 shares. The stock had previously closed at $85.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler lowered 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. Truist Financial reiterated a “buy” rating and set a $140.00 price target (down previously from $170.00) on shares of Freshpet in a report on Tuesday, February 25th. Citigroup decreased their target price on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and decreased their price target for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.67.

Freshpet Stock Up 0.7 %

The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 91.57 and a beta of 1.58. The firm has a 50 day moving average of $127.16 and a 200 day moving average of $138.23. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last issued its 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. The business had revenue of $262.71 million for the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, sell-side analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. Wealth Enhancement Advisory Services LLC raised its position in shares of Freshpet by 21.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,084 shares of the company’s stock worth $1,049,000 after purchasing an additional 1,272 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Freshpet in the 4th quarter worth about $14,678,000. Forum Financial Management LP bought a new stake in shares of Freshpet in the 4th quarter worth approximately $215,000. Public Employees Retirement System of Ohio lifted its stake in Freshpet by 24.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 51,129 shares of the company’s stock valued at $7,573,000 after purchasing an additional 10,009 shares during the last quarter. Finally, Elequin Capital LP bought a new position in Freshpet during the fourth quarter valued at $29,000.

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.