Stifel Nicolaus Cuts Freshpet (NASDAQ:FRPT) Price Target to $78.00

Key Points

• Stifel Nicolaus cut its price target for Freshpet (FRPT) from $84 to $78 but maintained a "buy" rating, implying roughly a 14.5% upside from the current price.
• Analyst sentiment is mixed but generally positive—ten Buys, seven Holds and one Sell—resulting in a consensus rating of Moderate Buy and a consensus price target of $75.56.
• Freshpet beat EPS estimates (reported $0.64 vs. $0.43 expected) while revenue was essentially in line at $285.23M (up 8.6% YoY); the stock trades around $68 with a market cap of about $3.34 billion and a P/E near 26.5.

Freshpet (NASDAQ:FRPT - Get Free Report) had its price objective reduced by research analysts at Stifel Nicolaus from $84.00 to $78.00 in a note issued to investors on Tuesday. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 14.50% from the company's current price.

Several other equities research analysts also recently commented on the company. Bank of America reduced their price objective on Freshpet from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, April 10th. Oppenheimer upgraded Freshpet from a "market perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Friday, March 20th. Wells Fargo & Company cut their price target on Freshpet from $90.00 to $78.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Morgan Stanley upgraded Freshpet from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $71.00 to $90.00 in a research note on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Freshpet from $69.00 to $62.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Freshpet has an average rating of "Moderate Buy" and a consensus price target of $75.56.

Freshpet Price Performance

NASDAQ FRPT opened at $68.12 on Tuesday. Freshpet has a one year low of $46.76 and a one year high of $89.80. The stock has a 50-day moving average of $70.39 and a 200 day moving average of $63.59. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 26.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.57 and a current ratio of 5.54.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The company had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. During the same period last year, the company earned $0.36 EPS. Freshpet's revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Freshpet will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company's stock valued at $25,000 after purchasing an additional 358 shares during the period. Motiv8 Investments LLC bought a new position in shares of Freshpet during the 4th quarter valued at approximately $28,000. Signaturefd LLC grew its stake in shares of Freshpet by 143.0% during the 4th quarter. Signaturefd LLC now owns 503 shares of the company's stock valued at $31,000 after acquiring an additional 296 shares during the period. Parallel Advisors LLC grew its stake in shares of Freshpet by 55.0% during the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company's stock valued at $31,000 after acquiring an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Freshpet by 445.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company's stock valued at $32,000 after acquiring an additional 432 shares during the period.

Freshpet Company Profile

Freshpet Inc NASDAQ: FRPT is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company's products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet's offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet's product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.

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