Truist Financial Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price objective decreased by stock analysts at Truist Financial from $140.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 30.35% from the company’s previous close.

Several other equities analysts also recently weighed in on FRPT. JPMorgan Chase & Co. cut their price target on shares of Freshpet from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. 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 report on Tuesday, March 25th. Citigroup lowered their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group upgraded Freshpet from a “hold” rating to a “buy” rating and reduced their price objective for the company from $155.00 to $150.00 in a research note on Monday, February 24th. Finally, Stifel Nicolaus lowered their target price on Freshpet from $155.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.67.

Freshpet Price Performance

Shares of FRPT opened at $84.39 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company’s fifty day moving average price is $118.17 and its 200-day moving average price is $135.75. Freshpet has a 1-year low of $80.27 and a 1-year high of $164.07. The firm has a market capitalization of $4.11 billion, a PE ratio of 89.78 and a beta of 1.58.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. On average, equities research analysts predict that Freshpet will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Elequin Capital LP acquired a new stake in Freshpet in the 4th quarter valued at $29,000. Geneos Wealth Management Inc. lifted its holdings in Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Freshpet during the third quarter valued at $32,000. Jones Financial Companies Lllp grew its position in shares of Freshpet by 130.9% in the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 123 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Freshpet during the fourth quarter worth about $39,000.

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.