Freshpet (NASDAQ:FRPT) Given New $100.00 Price Target at Robert W. Baird

Posted by Defense World Staff on Aug 12th, 2023

Freshpet (NASDAQ:FRPT – Free Report) had its price target increased by Robert W. Baird from $80.00 to $100.00 in a research report released on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on FRPT. Stephens boosted their target price on shares of Freshpet from $75.00 to $95.00 and gave the company an overweight rating in a report on Tuesday. VNET Group restated a maintains rating on shares of Freshpet in a report on Friday, May 5th. Finally, JPMorgan Chase & Co. lowered shares of Freshpet from an overweight rating to a neutral rating and upped their price objective for the stock from $78.00 to $84.00 in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $87.00.

View Our Latest Stock Analysis on Freshpet

Freshpet Stock Up 0.3 %

Shares of NASDAQ FRPT opened at $79.53 on Tuesday. Freshpet has a 12-month low of $36.02 and a 12-month high of $84.70. The stock has a market cap of $3.83 billion, a PE ratio of -60.25 and a beta of 0.99. The company has a current ratio of 6.29, a quick ratio of 8.02 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $67.86 and a 200 day moving average of $65.42.

Freshpet (NASDAQ:FRPT – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. Freshpet had a negative net margin of 9.45% and a negative return on equity of 6.39%. The company had revenue of $183.30 million during the quarter, compared to analysts’ expectations of $184.71 million. During the same quarter in the prior year, the company earned ($0.45) EPS. Freshpet’s revenue was up 25.5% compared to the same quarter last year. As a group, sell-side analysts predict that Freshpet will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

A number of hedge funds have recently added to or reduced their stakes in FRPT. Park Place Capital Corp lifted its holdings in Freshpet by 31.2% during the 2nd quarter. Park Place Capital Corp now owns 643 shares of the company’s stock worth $42,000 after buying an additional 153 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Freshpet by 25.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,421 shares of the company’s stock worth $54,000 after buying an additional 288 shares in the last quarter. Quent Capital LLC acquired a new stake in Freshpet during the 1st quarter worth approximately $66,000. Arcadia Investment Management Corp MI lifted its holdings in Freshpet by 130.8% during the 1st quarter. Arcadia Investment Management Corp MI now owns 1,018 shares of the company’s stock worth $67,000 after buying an additional 577 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Freshpet by 873.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 818 shares of the company’s stock worth $84,000 after buying an additional 734 shares in the last quarter.

Freshpet Company Profile

(Get Free Report)

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.