Freshpet (NASDAQ:FRPT) Given New $70.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies cut its price target on Freshpet from $75 to $70 and kept a "hold" rating, implying roughly a 6.1% upside from the current share price.
• Analysts are mixed: the consensus is a Moderate Buy with an average target of $76.44 (10 Buys, 7 Holds, 1 Sell), while individual targets range from Deutsche Bank's $62 to Morgan Stanley's $90.
• Freshpet beat quarterly EPS estimates ($0.64 vs. $0.43) with revenue of $285.23M (up 8.6% YoY); shares traded around $65.96, and the company has a market cap of about $3.24B and a P/E near 25.7.

Freshpet (NASDAQ:FRPT - Get Free Report) had its target price cut by analysts at Jefferies Financial Group from $75.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price target suggests a potential upside of 6.12% from the company's current price.

Several other brokerages have also recently issued reports on FRPT. Stifel Nicolaus reduced their price objective on Freshpet from $84.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday. Weiss Ratings restated a "hold (c)" rating on shares of Freshpet in a research note on Monday. Bank of America reduced their price objective on Freshpet from $80.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Freshpet from $69.00 to $62.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Finally, Morgan Stanley upgraded Freshpet from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $71.00 to $90.00 in a research note on Tuesday, February 24th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.44.

Freshpet Stock Up 1.7%

Shares of FRPT traded up $1.13 during trading on Wednesday, reaching $65.96. The company's stock had a trading volume of 928,302 shares, compared to its average volume of 1,467,800. The company has a fifty day moving average of $70.30 and a two-hundred day moving average of $63.67. Freshpet has a twelve month low of $46.76 and a twelve month high of $89.80. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 25.67 and a beta of 1.78. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The business had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. During the same period in the previous year, the business earned $0.36 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Freshpet will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its stake in Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company's stock worth $25,000 after buying an additional 358 shares during the last quarter. Motiv8 Investments LLC bought a new position in Freshpet during the 4th quarter worth $28,000. State of Wyoming bought a new position in Freshpet during the 2nd quarter worth $34,000. Signaturefd LLC grew its stake in Freshpet by 143.0% during the 4th quarter. Signaturefd LLC now owns 503 shares of the company's stock worth $31,000 after buying an additional 296 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock worth $34,000 after buying an additional 472 shares during the last quarter.

Freshpet Company Profile

Freshpet Inc NASDAQ: FRPT is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company's products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet's offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet's product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.

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