Freshpet (NASDAQ:FRPT) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Freshpet (NASDAQ:FRPT) from a hold rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

A number of other equities analysts have also issued reports on the stock. BidaskClub upgraded shares of Freshpet from a buy rating to a strong-buy rating in a research report on Thursday, March 26th. Imperial Capital raised their price objective on shares of Freshpet from $40.00 to $55.00 and gave the company an inline rating in a research report on Friday, December 6th. SunTrust Banks restated a hold rating and set a $70.00 price objective on shares of Freshpet in a research report on Wednesday, February 26th. Credit Suisse Group raised their price objective on shares of Freshpet from $58.00 to $68.00 and gave the company a neutral rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Freshpet from $72.00 to $86.00 and gave the company an overweight rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $75.50.

FRPT traded up $6.51 on Thursday, reaching $66.18. The company had a trading volume of 272,491 shares, compared to its average volume of 471,681. The company has a fifty day moving average of $64.54 and a 200-day moving average of $58.11. The company has a market capitalization of $2.48 billion, a P/E ratio of -1,102.82 and a beta of 0.75. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. Freshpet has a one year low of $35.95 and a one year high of $81.29.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Tuesday, February 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.05). The company had revenue of $65.75 million during the quarter, compared to the consensus estimate of $65.95 million. Freshpet had a negative net margin of 0.56% and a negative return on equity of 1.12%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Research analysts predict that Freshpet will post 0.34 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Capital Wealth Alliance LLC purchased a new stake in Freshpet during the fourth quarter valued at about $39,000. Cutler Group LP lifted its position in shares of Freshpet by 287.4% in the fourth quarter. Cutler Group LP now owns 674 shares of the company’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Freshpet in the fourth quarter worth approximately $96,000. Great West Life Assurance Co. Can purchased a new stake in shares of Freshpet in the fourth quarter worth approximately $128,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Freshpet in the fourth quarter worth approximately $200,000. 86.96% of the stock is owned by institutional investors.

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.

Further Reading: Front-End Load

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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