Stifel Nicolaus Has Lowered Expectations for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price target lowered by equities researchers at Stifel Nicolaus from $165.00 to $155.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 49.55% from the stock’s previous close.

A number of other research firms also recently issued reports on FRPT. JPMorgan Chase & Co. raised their price target on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Wells Fargo & Company reduced their price objective on Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday. Oppenheimer upped their price target on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Truist Financial upped their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $161.93.

Freshpet Stock Performance

Shares of Freshpet stock opened at $103.65 on Friday. 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 stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 115.95 and a beta of 1.42. The business has a 50-day moving average of $146.48 and a 200 day moving average of $143.06. Freshpet has a 12 month low of $89.15 and a 12 month high of $164.07.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. As a group, sell-side analysts forecast that Freshpet will post 0.89 earnings per share for the current year.

Insider Transactions at Freshpet

In related news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now directly owns 122,380 shares in the company, valued at approximately $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Freshpet by 2,770.4% in the 3rd quarter. Blue Trust Inc. now owns 775 shares of the company’s stock worth $100,000 after buying an additional 748 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Freshpet by 9.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 127,706 shares of the company’s stock valued at $17,466,000 after purchasing an additional 11,494 shares in the last quarter. Private Advisor Group LLC increased its holdings in Freshpet by 29.7% during the 3rd quarter. Private Advisor Group LLC now owns 2,316 shares of the company’s stock worth $317,000 after purchasing an additional 531 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in shares of Freshpet by 13.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 12,070 shares of the company’s stock valued at $1,651,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Freshpet during the 3rd quarter valued at approximately $795,000.

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.