JPMorgan Chase & Co. Issues Pessimistic Forecast for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $102.00 to $91.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.29% from the company’s previous close.

Several other equities research analysts have also commented on FRPT. Oppenheimer lowered shares of Freshpet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Citigroup decreased their price objective on Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group raised shares of Freshpet from a “hold” rating to a “buy” rating and cut their target price for the company from $155.00 to $150.00 in a report on Monday, February 24th. Piper Sandler decreased their price target on shares of Freshpet from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, March 25th. Finally, Truist Financial lowered their price target on Freshpet from $140.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.47.

Freshpet Trading Down 5.6 %

Shares of FRPT traded down $4.63 during midday trading on Thursday, hitting $78.25. 428,500 shares of the stock were exchanged, compared to its average volume of 781,947. The firm has a market cap of $3.81 billion, a P/E ratio of 83.39 and a beta of 1.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock has a fifty day simple moving average of $102.50 and a 200 day simple moving average of $131.67. Freshpet has a 52-week low of $72.90 and a 52-week high of $164.07.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Freshpet in the third quarter valued at approximately $202,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Freshpet during the third quarter worth $656,000. M&T Bank Corp grew its position in shares of Freshpet by 8.8% in the third quarter. M&T Bank Corp now owns 2,183 shares of the company’s stock valued at $299,000 after purchasing an additional 177 shares during the period. Geode Capital Management LLC increased its stake in Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Freshpet during the third quarter worth about $226,000.

Freshpet Company Profile

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.