Freshpet (NASDAQ:FRPT) Shares Gap Down to $55.67

Freshpet, Inc. (NASDAQ:FRPT – Get Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $55.67, but opened at $47.18. Freshpet shares last traded at $49.14, with a volume of 1,026,274 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of Freshpet in a report on Tuesday, February 28th. Stephens boosted their price objective on shares of Freshpet from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, February 28th. Credit Suisse Group boosted their price objective on shares of Freshpet from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, February 28th. Robert W. Baird boosted their price objective on shares of Freshpet from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, February 28th. Finally, Piper Sandler boosted their price objective on shares of Freshpet from $69.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, December 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and an average price target of $75.50.

Freshpet Stock Performance

The firm’s 50-day moving average price is $61.79 and its two-hundred day moving average price is $57.25. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -44.82 and a beta of 1.00.

Freshpet (NASDAQ:FRPT – Get Rating) last issued its earnings results on Monday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $151.34 million. Freshpet had a negative net margin of 9.99% and a negative return on equity of 6.26%. The firm’s revenue was up 43.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. As a group, equities research analysts anticipate that Freshpet, Inc. will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Freshpet by 2.9% in the third quarter. Teacher Retirement System of Texas now owns 6,840 shares of the company’s stock valued at $343,000 after buying an additional 195 shares in the last quarter. Commerce Bank boosted its position in Freshpet by 0.5% in the third quarter. Commerce Bank now owns 42,820 shares of the company’s stock valued at $2,145,000 after buying an additional 198 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Freshpet by 4.1% in the second quarter. First Republic Investment Management Inc. now owns 6,078 shares of the company’s stock valued at $315,000 after buying an additional 239 shares in the last quarter. Capital Impact Advisors LLC boosted its position in Freshpet by 8.4% in the fourth quarter. Capital Impact Advisors LLC now owns 3,141 shares of the company’s stock valued at $166,000 after buying an additional 243 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Freshpet by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 19,477 shares of the company’s stock valued at $976,000 after buying an additional 250 shares in the last quarter.

About Freshpet

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Freshpet, Inc is engaged in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. The firm foods are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.