Deutsche Bank Aktiengesellschaft Cuts Freshpet (NASDAQ:FRPT) Price Target to $62.00

Freshpet (NASDAQ:FRPT) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $69.00 to $62.00 in a research report report published on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on FRPT. Benchmark lifted their price target on Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Stifel Nicolaus upped their price objective on Freshpet from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings raised Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 29th. Morgan Stanley upgraded Freshpet from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $71.00 to $90.00 in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. decreased their target price on Freshpet from $80.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.00.

Freshpet Stock Performance

Shares of FRPT stock opened at $60.08 on Monday. The stock has a market cap of $2.95 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.96 and a beta of 1.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.57. The company has a fifty day moving average price of $71.74 and a two-hundred day moving average price of $62.29. Freshpet has a one year low of $46.76 and a one year high of $89.80.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21. The company had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, equities analysts predict that Freshpet will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new stake in shares of Freshpet in the fourth quarter valued at approximately $757,000. Corient Private Wealth LLC acquired a new stake in Freshpet during the fourth quarter worth approximately $227,000. Caitong International Asset Management Co. Ltd grew its position in Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after buying an additional 358 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Freshpet by 68.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,110 shares of the company’s stock worth $555,000 after acquiring an additional 3,705 shares during the period. Finally, XTX Topco Ltd acquired a new position in Freshpet in the 4th quarter valued at $361,000.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.