Freshpet (NASDAQ:FRPT) Given New $120.00 Price Target at Benchmark

Freshpet (NASDAQ:FRPT - Free Report) had its price target lowered by Benchmark from $140.00 to $120.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

FRPT has been the topic of several other research reports. Oppenheimer cut shares of Freshpet from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Piper Sandler lowered their price objective on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 25th. Stifel Nicolaus cut their target price on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Freshpet from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group upgraded Freshpet from a "hold" rating to a "buy" rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.73.

Freshpet Stock Up 0.7 %

Shares of NASDAQ:FRPT traded up $0.54 during trading on Tuesday, reaching $82.58. 118,630 shares of the stock traded hands, compared to its average volume of 831,684. The stock has a market cap of $4.03 billion, a P/E ratio of 87.85 and a beta of 1.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock has a 50-day moving average of $81.88 and a two-hundred day moving average of $122.72. Freshpet has a 52-week low of $71.19 and a 52-week high of $164.07.

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

Institutional Investors Weigh In On Freshpet

Large investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL boosted its holdings in shares of Freshpet by 508.9% in the 1st quarter. Blair William & Co. IL now owns 13,255 shares of the company's stock valued at $1,102,000 after buying an additional 11,078 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Freshpet by 29.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the company's stock worth $462,000 after buying an additional 1,273 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Freshpet during the 1st quarter valued at about $3,906,000. Blueshift Asset Management LLC purchased a new stake in Freshpet in the first quarter valued at about $484,000. Finally, Commerce Bank grew its stake in shares of Freshpet by 3.3% during the first quarter. Commerce Bank now owns 47,301 shares of the company's stock worth $3,934,000 after acquiring an additional 1,500 shares during the last quarter.

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.