Freshpet (NASDAQ:FRPT) Trading Down 6.8% - Here's What Happened

Key Points

• Freshpet's stock price fell by 6.8%, closing at $53.17 after trading as low as $54.15, amid a significant drop in trading volume of about 80%.
• Several analysts have revised their ratings on Freshpet, with UBS lowering its target price from $65.00 to $48.00, while the consensus price target remains at $108.07 according to MarketBeat.
• Freshpet reported $0.33 earnings per share for the last quarter, surpassing estimates, but its revenue of $264.69 million fell short of expectations of $269.75 million.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s stock price dropped 6.8% during trading on Wednesday . The company traded as low as $54.15 and last traded at $53.17. Approximately 270,981 shares changed hands during trading, a decline of 80% from the average daily volume of 1,351,730 shares. The stock had previously closed at $57.03.

Analysts Set New Price Targets

FRPT has been the topic of a number of analyst reports. Benchmark restated a "buy" rating and set a $95.00 target price (down from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. DA Davidson set a $101.00 target price on Freshpet in a research report on Thursday, August 7th. Wall Street Zen raised shares of Freshpet from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research upgraded Freshpet from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company lowered their price objective on Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $108.07.

Freshpet Trading Down 4.3%

The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 78.31, a PEG ratio of 0.97 and a beta of 1.72. The company has a fifty day moving average of $63.71 and a 200-day moving average of $74.58.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.21. Freshpet had a return on equity of 4.82% and a net margin of 3.23%.The company 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 firm posted ($0.03) EPS. Freshpet's revenue was up 12.5% compared to the same quarter last year. Freshpet has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Freshpet news, Director Jacki Sue Kelley bought 814 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were acquired at an average cost of $56.50 per share, with a total value of $45,991.00. Following the purchase, the director directly owned 11,907 shares of the company's stock, valued at $672,745.50. This trade represents a 7.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Timothy R. Mclevish bought 3,500 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $196,000.00. Following the completion of the purchase, the director directly owned 35,290 shares in the company, valued at approximately $1,976,240. This represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 4,630 shares of company stock worth $259,656 over the last three months. Corporate insiders own 4.43% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its stake in Freshpet by 45.1% in the 2nd quarter. Osaic Holdings Inc. now owns 5,318 shares of the company's stock worth $361,000 after purchasing an additional 1,652 shares in the last quarter. Centaurus Financial Inc. raised its position in shares of Freshpet by 48.1% during the 2nd quarter. Centaurus Financial Inc. now owns 5,868 shares of the company's stock valued at $399,000 after buying an additional 1,907 shares during the period. Orion Porfolio Solutions LLC purchased a new stake in shares of Freshpet during the 2nd quarter valued at approximately $432,000. Thrivent Financial for Lutherans raised its position in shares of Freshpet by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 39,358 shares of the company's stock valued at $2,676,000 after buying an additional 401 shares during the period. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Freshpet during the 2nd quarter valued at approximately $12,456,000.

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.