Freshpet (NASDAQ:FRPT) Price Target Cut to $70.00 by Analysts at Truist Financial

Key Points

• Analysts at Truist Financial have reduced Freshpet's price target from $80.00 to $70.00, currently maintaining a "hold" rating on the stock.
• Despite a downward adjustment in price targets from several analysts, Freshpet reported a quarterly EPS of $0.33, surpassing expectations of $0.12.
• Freshpet shares are currently trading at $68.61, reflecting a trading decline of 2.0% during mid-day trading.

Freshpet (NASDAQ:FRPT - Free Report) had its target price decreased by Truist Financial from $80.00 to $70.00 in a research note released on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Benchmark cut their price target on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus set a $90.00 price target on Freshpet and gave the stock a "buy" rating in a research report on Thursday, June 12th. UBS Group assumed coverage on Freshpet in a research report on Monday, June 16th. They issued a "sell" rating and a $65.00 price objective for the company. Finally, Robert W. Baird reduced their target price on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Freshpet currently has a consensus rating of "Hold" and a consensus price target of $116.64.

Freshpet Price Performance

NASDAQ:FRPT traded up $0.64 during midday trading on Tuesday, hitting $64.33. The company had a trading volume of 246,585 shares, compared to its average volume of 1,354,017. The company has a quick ratio of 3.92, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. The stock's fifty day moving average price is $72.44 and its 200-day moving average price is $90.47. Freshpet has a 52-week low of $63.61 and a 52-week high of $164.07. The company has a market capitalization of $3.14 billion, a PE ratio of 95.74, a P/E/G ratio of 1.34 and a beta of 1.77.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.12 by $0.21. The company had revenue of $264.69 million for the quarter, compared to analysts' expectations of $269.75 million. Freshpet had a return on equity of 4.82% and a net margin of 3.23%. Freshpet's revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. As a group, research analysts expect that Freshpet will post 1.55 earnings per share for the current year.

Institutional Trading of Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of Freshpet in the 1st quarter worth approximately $25,000. Elequin Capital LP bought a new stake in Freshpet in the fourth quarter worth $29,000. WPG Advisers LLC bought a new stake in shares of Freshpet in the 1st quarter valued at about $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Freshpet during the 2nd quarter valued at approximately $35,000. Finally, Larson Financial Group LLC lifted its stake in Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock valued at $56,000 after buying an additional 634 shares in 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.