Freshpet (NASDAQ:FRPT) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reaffirmed a neutral rating for Freshpet (NASDAQ:FRPT) with a target price of $70.00, down from $85.00, indicating a potential upside of 12.36% from the stock's previous close.
• Freshpet reported $0.33 EPS for the last quarter, exceeding analyst expectations of $0.12, although its revenue of $264.69 million fell short of estimates.
• The consensus rating for Freshpet among analysts is a Moderate Buy, with an average price target of $109.29, despite varied opinions from different research firms.

JPMorgan Chase & Co. initiated coverage on shares of Freshpet (NASDAQ:FRPT - Free Report) in a report issued on Wednesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $70.00 price objective on the stock.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus set a $90.00 target price on shares of Freshpet and gave the company a "buy" rating in a report on Thursday, June 12th. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company dropped their target price on shares of Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Truist Financial dropped their target price on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. Finally, Benchmark restated a "buy" rating and set a $95.00 target price (down previously from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $109.29.

Freshpet Trading Up 3.6%

NASDAQ:FRPT traded up $2.17 during trading hours on Wednesday, hitting $62.62. The company had a trading volume of 904,419 shares, compared to its average volume of 1,388,957. Freshpet has a 52 week low of $59.23 and a 52 week high of $164.07. The company has a market capitalization of $3.05 billion, a PE ratio of 93.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. The stock has a 50-day moving average price of $68.40 and a 200 day moving average price of $82.02.

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 firm had revenue of $264.69 million for the quarter, compared to analysts' expectations of $269.75 million. During the same quarter in the previous year, the business 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 predict that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its stake in Freshpet by 4.0% in the 4th quarter. Vident Advisory LLC now owns 2,111 shares of the company's stock worth $313,000 after purchasing an additional 82 shares during the period. Freedom Investment Management Inc. boosted its stake in Freshpet by 5.3% in the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company's stock worth $249,000 after purchasing an additional 84 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Freshpet by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 42,582 shares of the company's stock valued at $2,894,000 after acquiring an additional 160 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Freshpet by 1.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 16,510 shares of the company's stock valued at $1,122,000 after acquiring an additional 189 shares during the last quarter. Finally, Elequin Capital LP bought a new position in shares of Freshpet during the 4th quarter valued at approximately $29,000.

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.