Freshpet (NASDAQ:FRPT) Stock Rating Lowered by TD Cowen

TD Cowen lowered shares of Freshpet (NASDAQ:FRPT - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat.com reports. TD Cowen currently has $96.00 price target on the stock.

A number of other equities research analysts have also recently commented on FRPT. Jefferies Financial Group raised 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 report on Monday, February 24th. Truist Financial cut Freshpet from a "buy" rating to a "hold" rating and decreased their price target for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. Robert W. Baird decreased their price target on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Piper Sandler decreased their price target on Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Finally, Benchmark decreased their price target on Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.86.

Freshpet Stock Performance

Freshpet stock traded down $0.91 during trading on Wednesday, reaching $79.49. The company had a trading volume of 1,509,549 shares, compared to its average volume of 881,320. Freshpet has a 52 week low of $71.19 and a 52 week high of $164.07. The firm's 50-day simple moving average is $80.07 and its 200 day simple moving average is $116.13. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 84.56 and a beta of 1.85. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. During the same period in the prior year, the business posted $0.37 earnings per share. Freshpet's revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts forecast that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. Rhumbline Advisers boosted its holdings in shares of Freshpet by 131.0% in the first quarter. Rhumbline Advisers now owns 106,438 shares of the company's stock valued at $8,852,000 after purchasing an additional 60,352 shares during the period. United Services Automobile Association acquired a new position in shares of Freshpet during the first quarter worth $247,000. Jones Financial Companies Lllp increased its position in shares of Freshpet by 734.1% during the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock worth $151,000 after purchasing an additional 1,593 shares in the last quarter. Scientech Research LLC acquired a new position in shares of Freshpet during the first quarter worth $783,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Freshpet during the first quarter worth $5,296,000.

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.