Stifel Nicolaus Cuts Freshpet (NASDAQ:FRPT) Price Target to $65.00

Key Points

• Stifel Nicolaus has reduced its price target for Freshpet (NASDAQ: FRPT) from $90.00 to $65.00, while maintaining a "buy" rating, indicating a potential 19.19% upside.
• Multiple research firms, including Wells Fargo and JPMorgan Chase, have similarly lowered their price targets for Freshpet, reflecting a cautious outlook in the market.
• Despite recent challenges, Freshpet's quarterly earnings surpassed estimates, reporting $0.33 EPS against a consensus of $0.12, showcasing a year-over-year revenue growth of 12.5%.

Freshpet (NASDAQ:FRPT - Get Free Report) had its price objective cut by Stifel Nicolaus from $90.00 to $65.00 in a research report issued on Friday, MarketBeat.com reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 19.19% from the stock's previous close.

A number of other research firms have also recently issued reports on FRPT. Wells Fargo & Company reduced their target price on shares of Freshpet from $88.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial dropped their price target on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Tuesday, August 5th. JPMorgan Chase & Co. dropped their price target on shares of Freshpet from $70.00 to $62.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Benchmark reiterated a "buy" rating and issued a $95.00 target price (down from $120.00) on shares of Freshpet in a research note on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $101.13.

Freshpet Stock Up 0.6%

Shares of NASDAQ FRPT traded up $0.35 during mid-day trading on Friday, reaching $54.54. The company had a trading volume of 22,591 shares, compared to its average volume of 1,390,215. The stock has a fifty day moving average of $54.19 and a two-hundred day moving average of $67.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 80.72, a PEG ratio of 1.29 and a beta of 1.74. Freshpet has a 12-month low of $46.76 and a 12-month high of $164.07.

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

Insiders Place Their Bets

In other news, Director Walter N. George purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average cost of $52.57 per share, with a total value of $52,570.00. Following the acquisition, the director directly owned 46,527 shares of the company's stock, valued at approximately $2,445,924.39. This trade represents a 2.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jacki Sue Kelley purchased 814 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average cost of $56.50 per share, with a total value of $45,991.00. Following the completion of the acquisition, the director directly owned 11,907 shares in the company, valued at $672,745.50. The trade was a 7.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 6,008 shares of company stock worth $332,305 in the last ninety days. Insiders own 4.43% of the company's stock.

Hedge Funds Weigh In On Freshpet

A number of institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its stake in shares of Freshpet by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 42,582 shares of the company's stock worth $2,894,000 after acquiring an additional 160 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Freshpet by 1.2% in the second quarter. Maryland State Retirement & Pension System now owns 16,510 shares of the company's stock worth $1,122,000 after acquiring an additional 189 shares during the last quarter. Hardy Reed LLC raised its stake in shares of Freshpet by 10.4% in the first quarter. Hardy Reed LLC now owns 2,414 shares of the company's stock worth $201,000 after acquiring an additional 228 shares during the last quarter. Ossiam raised its stake in shares of Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company's stock worth $35,000 after acquiring an additional 228 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of Freshpet by 7.1% during the 1st quarter. Xponance Inc. now owns 3,611 shares of the company's stock worth $300,000 after buying an additional 238 shares during the period.

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.

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