Freshpet (NASDAQ:FRPT) Sets New 12-Month Low - Here's What Happened

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $66.77 and last traded at $66.86, with a volume of 1013640 shares changing hands. The stock had previously closed at $71.79.

Wall Street Analysts Forecast Growth

FRPT has been the topic of several research reports. Piper Sandler decreased their price target on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, March 25th. Oppenheimer lowered shares of Freshpet from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Stifel Nicolaus set a $90.00 target price on shares of Freshpet and gave the stock a "buy" rating in a research note on Thursday, June 12th. Benchmark lowered 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. Finally, Truist Financial downgraded shares of Freshpet from a "buy" rating to a "hold" rating and lowered their target price for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Freshpet presently has a consensus rating of "Hold" and an average target price of $122.00.

Freshpet Price Performance

The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.31 billion, a P/E ratio of 219.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.79. The business's 50-day simple moving average is $77.40 and its two-hundred day simple moving average is $101.64.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.09 EPS 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 firm had revenue of $263.25 million during the quarter, compared to the consensus estimate of $265.57 million. During the same quarter last year, the business posted $0.37 earnings per share. Freshpet's revenue was up 17.6% compared to the same quarter last year. Sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in Freshpet during the first quarter valued at approximately $25,000. Elequin Capital LP purchased a new position in shares of Freshpet in the fourth quarter worth $29,000. Jones Financial Companies Lllp increased its stake in shares of Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company's stock worth $32,000 after buying an additional 123 shares during the period. WPG Advisers LLC purchased a new position in Freshpet during the 1st quarter valued at $34,000. Finally, SBI Securities Co. Ltd. purchased a new position in Freshpet during the 4th quarter valued at $43,000.

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.