Freshpet (NASDAQ:FRPT) Reaches New 12-Month Low - Here's Why

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $71.19 and last traded at $72.83, with a volume of 278018 shares. The stock had previously closed at $73.40.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FRPT shares. Citigroup lowered their price objective on shares of Freshpet from $155.00 to $142.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Benchmark cut their price target on Freshpet from $195.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group raised shares of Freshpet from a "hold" rating to a "buy" rating and reduced their price target for the company from $155.00 to $150.00 in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Freshpet from $102.00 to $91.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Truist Financial lowered shares of Freshpet from a "buy" rating to a "hold" rating and dropped their price target for the company from $90.00 to $80.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Freshpet has an average rating of "Moderate Buy" and an average price target of $138.80.

Freshpet Stock Performance

The firm's 50-day simple moving average is $84.37 and its two-hundred day simple moving average is $124.81. The stock has a market capitalization of $3.70 billion, a PE ratio of 80.94 and a beta of 1.80. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. On average, equities research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lecap Asset Management Ltd. acquired a new stake in Freshpet during the fourth quarter valued at $817,000. Principal Financial Group Inc. grew its stake in shares of Freshpet by 36.4% in the 4th quarter. Principal Financial Group Inc. now owns 107,657 shares of the company's stock valued at $15,945,000 after buying an additional 28,743 shares in the last quarter. Victory Capital Management Inc. raised its position in Freshpet by 1.7% during the fourth quarter. Victory Capital Management Inc. now owns 135,629 shares of the company's stock valued at $20,088,000 after acquiring an additional 2,291 shares in the last quarter. Natixis Advisors LLC raised its position in Freshpet by 406.4% during the fourth quarter. Natixis Advisors LLC now owns 53,066 shares of the company's stock valued at $7,860,000 after acquiring an additional 42,587 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company's stock valued at $55,065,000 after acquiring an additional 253,679 shares during the last quarter.

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.