Freshpet, Inc. (NASDAQ:FRPT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $130.25.

FRPT has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Freshpet in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of Freshpet from $124.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. 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. Oppenheimer boosted their target price on shares of Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Finally, Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and boosted their price target for the company from $120.00 to $135.00 in a research note on Monday, March 11th.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total transaction of $792,780.00. Following the completion of the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $11,368,333.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 13,560 shares of company stock valued at $1,701,580. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Freshpet

Several hedge funds have recently bought and sold shares of FRPT. Envestnet Asset Management Inc. grew its position in Freshpet by 46.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 81,013 shares of the company’s stock valued at $5,337,000 after purchasing an additional 25,558 shares during the period. JPMorgan Chase & Co. grew its position in Freshpet by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock valued at $139,576,000 after purchasing an additional 17,678 shares during the period. Sei Investments Co. lifted its stake in Freshpet by 4.4% during the 3rd quarter. Sei Investments Co. now owns 257,519 shares of the company’s stock valued at $16,965,000 after acquiring an additional 10,832 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in Freshpet during the 3rd quarter valued at $5,621,000. Finally, VitalStone Financial LLC bought a new position in Freshpet during the 3rd quarter valued at $426,000.

Freshpet Price Performance

NASDAQ FRPT opened at $132.36 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. Freshpet has a 12-month low of $54.60 and a 12-month high of $132.84. The company has a market capitalization of $6.41 billion, a PE ratio of 735.37 and a beta of 1.36. The firm’s 50 day moving average is $124.27 and its 200-day moving average is $107.00.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The business had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. Equities research analysts anticipate that Freshpet will post 0.54 earnings per share 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.