Robert W. Baird Increases Freshpet (NASDAQ:FRPT) Price Target to $135.00

Freshpet (NASDAQ:FRPT) had its price target upped by analysts at Robert W. Baird from $125.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 11.54% from the company’s previous close.

FRPT has been the topic of several other reports. Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and upped their price objective for the company from $120.00 to $135.00 in a research report on Monday, March 11th. Piper Sandler raised their price target on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Citigroup began coverage on shares of Freshpet in a report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, DA Davidson lifted their target price on shares of Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and a consensus price target of $109.86.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $121.03 on Tuesday. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $110.42 and its 200 day moving average price is $89.54. Freshpet has a 52 week low of $54.60 and a 52 week high of $127.25. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -170.46 and a beta of 1.24.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS 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 business had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, research analysts forecast that Freshpet will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares of the company’s stock, valued at approximately $9,231,127.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the completion of the transaction, the chief operating officer now owns 122,380 shares in the company, valued at $13,921,948.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $9,231,127.68. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock valued at $1,737,280 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently bought and sold shares of FRPT. JANA Partners Management LP bought a new stake in shares of Freshpet in the 3rd quarter valued at approximately $214,405,000. Norges Bank bought a new stake in shares of Freshpet during the 4th quarter worth $40,327,000. Lord Abbett & CO. LLC acquired a new position in Freshpet in the 3rd quarter valued at $28,044,000. Jennison Associates LLC grew its stake in Freshpet by 36.6% in the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after buying an additional 245,403 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Freshpet by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after acquiring an additional 234,836 shares during the last quarter.

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.