Freshpet (NASDAQ:FRPT) Price Target Cut to $115.00 by Analysts at Robert W. Baird

Freshpet (NASDAQ:FRPT - Get Free Report) had its price objective decreased by Robert W. Baird from $125.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 42.91% from the stock's previous close.

FRPT has been the subject of a number of other research reports. Piper Sandler decreased their target price on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Oppenheimer cut shares of Freshpet from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Jefferies Financial Group raised Freshpet from a "hold" rating to a "buy" rating and cut their price objective for the company from $155.00 to $150.00 in a research report on Monday, February 24th. Citigroup dropped their price target on Freshpet from $155.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their target price on shares of Freshpet from $135.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Freshpet currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.73.

Freshpet Price Performance

NASDAQ FRPT traded down $1.57 on Tuesday, reaching $80.47. 966,804 shares of the company's stock traded hands, compared to its average volume of 837,769. The stock has a 50-day simple moving average of $81.60 and a 200 day simple moving average of $122.28. Freshpet has a 12 month low of $71.19 and a 12 month high of $164.07. The stock has a market cap of $3.93 billion, a PE ratio of 85.61 and a beta of 1.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.09 earnings per share 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 firm had revenue of $263.25 million for the quarter, compared to analysts' expectations of $265.57 million. During the same period in the previous year, the company earned $0.37 EPS. The company's quarterly revenue was up 17.6% on a year-over-year basis. As a group, research analysts predict that Freshpet will post 1.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Vanguard Group Inc. lifted its holdings in shares of Freshpet by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock valued at $434,455,000 after buying an additional 571,139 shares during the period. Norges Bank purchased a new stake in Freshpet during the fourth quarter valued at $75,253,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock worth $55,065,000 after buying an additional 253,679 shares during the last quarter. Riverbridge Partners LLC grew its position in shares of Freshpet by 18.0% during the 1st quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock valued at $85,401,000 after acquiring an additional 156,583 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Freshpet by 124.0% during the 1st quarter. Principal Financial Group Inc. now owns 241,196 shares of the company's stock valued at $20,060,000 after acquiring an additional 133,539 shares during the period.

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.