JPMorgan Chase & Co. Issues Positive Forecast for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $126.00 to $154.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 0.81% from the stock’s previous close.

Several other research analysts have also recently issued reports on FRPT. Benchmark restated a “buy” rating and issued a $150.00 target price on shares of Freshpet in a report on Friday, November 1st. Truist Financial upped their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen raised their target price on Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird upped their price target on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.13.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $155.27 on Tuesday. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.53 billion, a PE ratio of 174.46 and a beta of 1.39. The company’s fifty day moving average is $138.60 and its 200 day moving average is $129.81. Freshpet has a 52 week low of $65.81 and a 52 week high of $157.10.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a return on equity of 3.72% and a net margin of 4.75%. The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Research analysts anticipate that Freshpet will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Several large investors have recently modified their holdings of FRPT. WCM Investment Management LLC increased its stake in Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock valued at $376,187,000 after purchasing an additional 2,445,199 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Freshpet during the first quarter valued at approximately $17,845,000. Driehaus Capital Management LLC raised its holdings in Freshpet by 24.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock worth $93,327,000 after acquiring an additional 141,615 shares during the last quarter. M&G Plc bought a new position in Freshpet in the 2nd quarter valued at approximately $8,892,000. Finally, Renaissance Technologies LLC purchased a new stake in Freshpet during the 2nd quarter valued at $8,902,000.

Freshpet Company Profile

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.