Freshpet (NASDAQ:FRPT) Given New $88.00 Price Target at Wells Fargo & Company

Freshpet (NASDAQ:FRPT - Free Report) had its target price trimmed by Wells Fargo & Company from $100.00 to $88.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. UBS Group initiated coverage on Freshpet in a research report on Monday, June 16th. They issued a "sell" rating and a $65.00 target price for the company. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the stock a "buy" rating in a report on Thursday, June 12th. Benchmark dropped their price objective on shares of Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Finally, Robert W. Baird dropped their price target on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $121.20.

Freshpet Stock Performance

Shares of NASDAQ:FRPT traded up $0.77 during midday trading on Wednesday, reaching $70.88. The company had a trading volume of 542,065 shares, compared to its average volume of 947,856. Freshpet has a 52-week low of $66.75 and a 52-week high of $164.07. The company's 50 day moving average price is $77.26 and its 200 day moving average price is $101.21. The company has a current ratio of 4.91, a quick ratio of 3.92 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.46 billion, a P/E ratio of 228.63, a P/E/G ratio of 1.18 and a beta of 1.79.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Freshpet had a net margin of 1.54% and a return on equity of 3.16%. The company had revenue of $263.25 million during the quarter, compared to analysts' expectations of $265.57 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm's revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Freshpet will post 1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Freshpet

A number of institutional investors have recently added to or reduced their stakes in FRPT. Elequin Capital LP bought a new stake in Freshpet during the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp lifted its holdings in shares of Freshpet by 130.9% during the 4th quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after acquiring an additional 123 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Freshpet in the fourth quarter worth $43,000. Banque Transatlantique SA bought a new position in Freshpet in the first quarter valued at $25,000. Finally, WPG Advisers LLC purchased a new stake in Freshpet during the first quarter valued at about $34,000.

Freshpet Company Profile

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.