Freshpet (NASDAQ:FRPT) Shares Down 5.2% - Here's What Happened

Key Points

• Freshpet's shares dropped by 5.2%, trading at $59.34, a decline driven by an 84% fall in trading volume compared to its average.
• Analysts have mixed reviews, with price targets and ratings ranging from an "outperform" at $115 to a "sell" at $65, resulting in a consensus target price of $109.29.
• Despite the recent downturn, Freshpet reported a quarterly revenue increase of 12.5% year-over-year, with earnings beating estimates at $0.33 per share.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s share price was down 5.2% on Monday . The company traded as low as $59.82 and last traded at $59.34. Approximately 217,552 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,330,165 shares. The stock had previously closed at $62.62.

Wall Street Analysts Forecast Growth

FRPT has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price target on Freshpet from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded Freshpet from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. TD Cowen downgraded Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price target for the company. in a report on Wednesday, May 28th. UBS Group assumed coverage on shares of Freshpet in a report on Monday, June 16th. They set a "sell" rating and a $65.00 price objective on the stock. Finally, Benchmark restated a "buy" rating and set a $95.00 price objective (down previously from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $109.29.

Freshpet Price Performance

The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 86.50, a P/E/G ratio of 1.11 and a beta of 1.77. The company has a fifty day moving average price of $68.40 and a two-hundred day moving average price of $81.55. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The business had revenue of $264.69 million for the quarter, compared to analysts' expectations of $269.75 million. During the same period in the previous year, the company posted ($0.03) EPS. The company's quarterly revenue was up 12.5% on a year-over-year basis. Freshpet has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in FRPT. Banque Transatlantique SA acquired a new position in Freshpet in the 1st quarter valued at about $25,000. Elequin Capital LP purchased a new position in shares of Freshpet in the 4th quarter valued at approximately $29,000. WPG Advisers LLC acquired a new position in shares of Freshpet in the first quarter valued at approximately $34,000. EverSource Wealth Advisors LLC increased its holdings in shares of Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock valued at $34,000 after purchasing an additional 472 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Freshpet during the second quarter worth approximately $34,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.