Freshpet (NASDAQ:FRPT) Sets New 52-Week Low - What's Next?

Key Points

• Freshpet, Inc. shares hit a new 52-week low at $63.61, with a current trading price of $63.69 and a significant trading volume of 1,526,718 shares.
• Despite recent lows, Wall Street analysts have mixed opinions, with price targets ranging from $70.00 to $115.00 and an overall consensus rating of "Hold" on the stock.
• The company posted a quarterly earnings report indicating earnings per share of $0.33, surpassing expectations, but revenue fell slightly short at $264.69 million compared to the consensus estimate of $269.75 million.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as $63.61 and last traded at $63.69, with a volume of 1526718 shares changing hands. The stock had previously closed at $67.42.

Wall Street Analysts Forecast Growth

FRPT has been the subject of a number of recent analyst reports. Truist Financial reduced their price target on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating for the company in a research report on Tuesday. Stifel Nicolaus set a $90.00 price target on shares of Freshpet and gave the company a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. reduced their price target on shares of Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. TD Cowen lowered shares of Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price target for the company. in a research report on Wednesday, May 28th. Finally, Robert W. Baird reduced their price target on shares of Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $116.64.

Freshpet Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.92. The firm has a market capitalization of $3.11 billion, a P/E ratio of 95.06, a P/E/G ratio of 1.34 and a beta of 1.77. The firm's 50 day simple moving average is $72.44 and its two-hundred day simple moving average is $90.47.

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

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Freshpet by 12.3% during the first quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock valued at $434,455,000 after acquiring an additional 571,139 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Freshpet by 8.1% during the first quarter. Wellington Management Group LLP now owns 2,616,205 shares of the company's stock valued at $217,590,000 after acquiring an additional 196,882 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Freshpet by 9.6% in the first quarter. Champlain Investment Partners LLC now owns 1,815,884 shares of the company's stock worth $151,027,000 after buying an additional 158,416 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Freshpet by 20.6% in the second quarter. William Blair Investment Management LLC now owns 1,527,068 shares of the company's stock worth $103,780,000 after buying an additional 260,868 shares during the period. Finally, Riverbridge Partners LLC lifted its holdings in Freshpet by 23.2% in the second quarter. Riverbridge Partners LLC now owns 1,264,959 shares of the company's stock worth $85,967,000 after buying an additional 238,130 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.

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