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Investing.com - Freshpet (NASDAQ:FRPT), currently trading at $52.87 and showing strong revenue growth of 19.3% over the last twelve months, announced Wednesday the departure of Chief Financial Officer Todd Cunfer, who will join Campbell Soup Company, while reaffirming its full-year 2025 guidance. According to InvestingPro analysis, the company is currently trading below its Fair Value.
Cunfer, who has been credited with improving Freshpet’s financial discipline and operational execution, will begin his new role at Campbell Soup on October 20th, according to Piper Sandler.
The pet food company has not yet named a permanent successor to fill the CFO position, leaving questions about future financial leadership at the company.
Despite the leadership change, Freshpet reaffirmed its 2025 guidance, a move Piper Sandler considers significant given the company’s recent deceleration in top-line momentum.
Piper Sandler maintained its Overweight rating and $88.00 price target on Freshpet stock, noting that while operational momentum should continue, Cunfer’s departure represents a loss for the company.
In other recent news, Freshpet, Inc. announced the resignation of Chief Financial Officer Todd Cunfer, effective October 17, as he leaves to pursue another position. Ivan Garcia, who has been with Freshpet since 2014 and most recently served as Vice President of Finance, will step in as Interim CFO. Freshpet’s board is initiating a search for a permanent CFO. Meanwhile, DA Davidson reiterated its Buy rating for Freshpet, citing positive aspects such as distribution growth and potential margin catalysts. Benchmark also maintains a Buy rating but has lowered its price target to $80 due to weaker volume growth trends. UBS has reduced its price target for Freshpet to $48, maintaining a Sell rating based on concerns over slowing sales growth. These developments reflect ongoing shifts and challenges within Freshpet’s business landscape.
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