Analysts Set Freshpet, Inc. (NASDAQ:FRPT) Target Price at $107.36

Freshpet, Inc. (NASDAQ:FRPT) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $107.36.

FRPT has been the topic of several recent research reports. DA Davidson lifted their target price on Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and upped their target price for the company from $120.00 to $135.00 in a research report on Monday, March 11th. JPMorgan Chase & Co. lifted their target price on Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Stifel Nicolaus boosted their target price on shares of Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Freshpet to a “sell” rating in a report on Wednesday.

Insider Buying and Selling at Freshpet

In related news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Stephen Macchiaverna sold 7,130 shares of Freshpet stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the sale, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Scott James Morris sold 2,500 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,762 shares of company stock worth $1,737,280. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Impax Asset Management Group plc bought a new position in shares of Freshpet in the 4th quarter worth $4,338,000. Oak Thistle LLC bought a new position in Freshpet in the fourth quarter valued at $1,200,000. Allspring Global Investments Holdings LLC raised its position in Freshpet by 89.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 90,997 shares of the company’s stock valued at $7,895,000 after purchasing an additional 42,973 shares in the last quarter. Trust Point Inc. bought a new stake in Freshpet during the fourth quarter worth about $963,000. Finally, Jennison Associates LLC lifted its stake in Freshpet by 36.6% during the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after purchasing an additional 245,403 shares during the last quarter.

Freshpet Stock Performance

Shares of NASDAQ:FRPT opened at $104.98 on Friday. The company’s 50 day simple moving average is $107.45 and its 200 day simple moving average is $86.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. Freshpet has a 1 year low of $54.60 and a 1 year high of $117.76. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -147.86 and a beta of 1.23.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. As a group, research analysts predict that Freshpet will post 0.07 EPS for the current fiscal year.

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.