Freshpet (NASDAQ:FRPT) Trading Down 4.5% - Should You Sell?

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s share price dropped 4.5% during trading on Wednesday . The stock traded as low as $69.63 and last traded at $68.98. Approximately 61,081 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 910,010 shares. The stock had previously closed at $72.20.

Wall Street Analysts Forecast Growth

FRPT has been the topic of several research analyst reports. Benchmark dropped their price objective on Freshpet from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Truist Financial downgraded Freshpet from a "buy" rating to a "hold" rating and dropped their price objective for the company from $90.00 to $80.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird dropped their price objective on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Piper Sandler reduced their target price on shares of Freshpet from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $122.00.

Freshpet Trading Up 0.2%

The firm has a market capitalization of $3.34 billion, a P/E ratio of 220.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.86. The company has a quick ratio of 3.92, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $77.80 and its 200-day simple moving average is $105.31.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Freshpet had a return on equity of 3.16% and a net margin of 1.54%. The business had revenue of $263.25 million for the quarter, compared to analysts' expectations of $265.57 million. During the same period last year, the business posted $0.37 earnings per share. The company's revenue was up 17.6% compared to the same quarter last year. Analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. M&T Bank Corp increased its stake in shares of Freshpet by 3.2% in the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company's stock worth $333,000 after buying an additional 70 shares during the period. Vident Advisory LLC raised its stake in Freshpet by 4.0% in the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company's stock worth $313,000 after buying an additional 82 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in Freshpet by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock worth $249,000 after buying an additional 84 shares during the period. Arizona State Retirement System grew its holdings in shares of Freshpet by 0.8% during the 4th quarter. Arizona State Retirement System now owns 13,350 shares of the company's stock worth $1,977,000 after acquiring an additional 101 shares during the period. Finally, Williamson Legacy Group LLC raised its position in shares of Freshpet by 1.6% in the 4th quarter. Williamson Legacy Group LLC now owns 6,903 shares of the company's stock worth $1,022,000 after acquiring an additional 112 shares in the last quarter.

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.