Freshpet (NASDAQ:FRPT) Stock Price Down 3.3% - Here's What Happened

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) dropped 3.3% on Wednesday . The stock traded as low as $75.03 and last traded at $76.29. Approximately 237,846 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 886,145 shares. The stock had previously closed at $78.89.

Wall Street Analysts Forecast Growth

FRPT has been the subject of several analyst reports. Truist Financial cut Freshpet from a "buy" rating to a "hold" rating and decreased their price objective for the company from $90.00 to $80.00 in a report on Wednesday, April 30th. Piper Sandler decreased their price objective on Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. TD Cowen cut Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price objective on Freshpet from $91.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, Oppenheimer downgraded shares of Freshpet from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Freshpet has a consensus rating of "Moderate Buy" and a consensus price target of $126.07.

Freshpet Trading Down 4.5%

The company has a market cap of $3.62 billion, a P/E ratio of 79.01 and a beta of 1.86. The business has a fifty day moving average price of $79.40 and a 200-day moving average price of $110.68. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The firm had revenue of $263.25 million for the quarter, compared to the consensus estimate of $265.57 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The company's revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Institutional Investors Weigh In On Freshpet

Institutional investors have recently made changes to their positions in the stock. Elequin Capital LP bought a new stake in shares of Freshpet in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp boosted 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 valued at $32,000 after buying an additional 123 shares during the period. IFP Advisors Inc bought a new stake in shares of Freshpet in the fourth quarter valued at approximately $43,000. SBI Securities Co. Ltd. bought a new stake in shares of Freshpet in the fourth quarter valued at approximately $43,000. Finally, Banque Transatlantique SA bought a new stake in shares of Freshpet in the first quarter valued at approximately $25,000.

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.