Truist Financial Cuts Freshpet (NASDAQ:FRPT) Price Target to $70.00

by · The Markets Daily

Freshpet (NASDAQ:FRPT – Free Report) had its price target trimmed by Truist Financial from $80.00 to $70.00 in a report published on Tuesday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other analysts also recently issued reports on FRPT. Benchmark decreased their price target on Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. TD Cowen downgraded Freshpet from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a research note on Wednesday, May 28th. Stifel Nicolaus set a $90.00 target price on Freshpet and gave the company a “buy” rating in a research note on Thursday, June 12th. UBS Group began coverage on Freshpet in a research note on Monday, June 16th. They set a “sell” rating and a $65.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on Freshpet from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $116.64.

Check Out Our Latest Analysis on Freshpet

Freshpet Stock Performance

FRPT opened at $67.42 on Tuesday. The company has a market cap of $3.29 billion, a PE ratio of 100.63, a price-to-earnings-growth ratio of 1.39 and a beta of 1.77. The stock has a 50-day moving average of $72.76 and a 200-day moving average of $90.65. Freshpet has a 52-week low of $64.69 and a 52-week high of $164.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.92 and a current ratio of 4.81.

Freshpet (NASDAQ:FRPT – Get Free Report) last released its quarterly earnings results 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. The company had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a return on equity of 4.82% and a net margin of 3.23%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities research analysts forecast that Freshpet will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freshpet

Several large investors have recently added to or reduced their stakes in the company. Elequin Capital LP acquired a new position in shares of Freshpet in the 4th quarter worth approximately $29,000. Banque Transatlantique SA acquired a new position in shares of Freshpet in the 1st quarter worth approximately $25,000. WPG Advisers LLC acquired a new position in shares of Freshpet in the 1st quarter worth approximately $34,000. Morse Asset Management Inc acquired a new position in shares of Freshpet in the 4th quarter worth approximately $70,000. Finally, Larson Financial Group LLC raised its holdings in shares of Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company’s stock worth $56,000 after buying an additional 634 shares in the last quarter.

Freshpet Company Profile

(Get Free Report)

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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