Freshpet (NASDAQ:FRPT) PT Raised to $62.00 at JPMorgan Chase & Co.

Freshpet (NASDAQ:FRPT) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.25% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Robert W. Baird lifted their price target on Freshpet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. BidaskClub upgraded Freshpet from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. SunTrust Banks reduced their target price on Freshpet to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. They noted that the move was a valuation call. ValuEngine lowered Freshpet from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Freshpet presently has an average rating of “Buy” and a consensus target price of $52.00.

Shares of FRPT stock opened at $52.43 on Wednesday. The firm has a market cap of $1.94 billion, a P/E ratio of -349.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 1.02. Freshpet has a 1-year low of $28.44 and a 1-year high of $56.50. The firm has a fifty day moving average of $52.50 and a two-hundred day moving average of $47.91.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). The company had revenue of $65.27 million during the quarter, compared to the consensus estimate of $64.37 million. Freshpet had a negative return on equity of 3.52% and a negative net margin of 1.84%. Freshpet’s quarterly revenue was up 28.5% on a year-over-year basis. On average, sell-side analysts expect that Freshpet will post 0.02 EPS for the current year.

In other news, CFO Richard A. Kassar sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the chief financial officer now directly owns 148,996 shares of the company’s stock, valued at $8,194,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 4,966 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $54.50, for a total value of $270,647.00. Following the sale, the vice president now owns 86,603 shares in the company, valued at $4,719,863.50. The disclosure for this sale can be found here. Insiders sold a total of 24,964 shares of company stock valued at $1,371,916 over the last ninety days. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. increased its position in Freshpet by 2.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 199,118 shares of the company’s stock worth $9,062,000 after buying an additional 5,102 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Freshpet by 34.9% during the second quarter. Allianz Asset Management GmbH now owns 443,793 shares of the company’s stock valued at $20,197,000 after acquiring an additional 114,909 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of Freshpet by 2.8% during the third quarter. Eagle Asset Management Inc. now owns 607,551 shares of the company’s stock valued at $30,237,000 after acquiring an additional 16,310 shares during the period. Rhumbline Advisers boosted its holdings in shares of Freshpet by 7.1% during the third quarter. Rhumbline Advisers now owns 42,879 shares of the company’s stock valued at $2,134,000 after acquiring an additional 2,860 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Freshpet by 3,162.3% during the third quarter. Voya Investment Management LLC now owns 377,453 shares of the company’s stock worth $18,786,000 after acquiring an additional 365,883 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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