Freshpet, Inc. (NASDAQ:FRPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Freshpet, Inc. (NASDAQ:FRPTGet Free Report) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $102.43.

A number of analysts have commented on the stock. Piper Sandler upped their target price on shares of Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. TheStreet raised shares of Freshpet from a “d+” rating to a “c-” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. upped their target price on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Oppenheimer upped their target price on shares of Freshpet from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Truist Financial increased their price objective on shares of Freshpet from $70.00 to $120.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th.

Check Out Our Latest Research Report on FRPT

Freshpet Stock Up 1.5 %

FRPT opened at $112.49 on Thursday. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $90.06 and a 200-day moving average price of $76.48. Freshpet has a twelve month low of $45.13 and a twelve month high of $114.31. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of -158.44 and a beta of 1.23.

Freshpet (NASDAQ:FRPTGet Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The firm had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. Equities research analysts forecast that Freshpet will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the transaction, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the transaction, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott James Morris sold 2,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the transaction, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,921,948.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,130 shares of company stock worth $1,338,269. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Freshpet

Several institutional investors have recently bought and sold shares of FRPT. Advisor Group Holdings Inc. lifted its position in Freshpet by 63.1% during the first quarter. Advisor Group Holdings Inc. now owns 2,983 shares of the company’s stock valued at $306,000 after purchasing an additional 1,154 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Freshpet by 129.9% in the 1st quarter. HighTower Advisors LLC now owns 7,492 shares of the company’s stock worth $790,000 after acquiring an additional 4,233 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Freshpet by 155.2% in the 1st quarter. Citigroup Inc. now owns 18,953 shares of the company’s stock worth $1,944,000 after acquiring an additional 11,527 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Freshpet by 104.0% in the 1st quarter. Bank of Montreal Can now owns 20,798 shares of the company’s stock worth $2,203,000 after acquiring an additional 10,601 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Freshpet in the 1st quarter worth about $271,000.

About Freshpet

(Get Free Report

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.

Further Reading

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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