Freshpet (NASDAQ:FRPT) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Freshpet (NASDAQ:FRPT) in a research report report published on Tuesday, Benzinga reports. They currently have a $150.00 price target on the stock.

A number of other brokerages also recently issued reports on FRPT. DA Davidson lifted their price target on shares of Freshpet from $138.00 to $153.00 and gave the company a buy rating in a report on Tuesday, May 7th. Stifel Nicolaus upped their price objective on Freshpet from $115.00 to $135.00 and gave the stock a buy rating in a report on Thursday, April 11th. Oppenheimer boosted their price target on shares of Freshpet from $135.00 to $155.00 and gave the stock an outperform rating in a research report on Tuesday, June 25th. StockNews.com raised shares of Freshpet to a sell rating in a research note on Saturday, May 4th. Finally, Wells Fargo & Company upped 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Freshpet has a consensus rating of Moderate Buy and an average price target of $130.25.

Freshpet Price Performance

Shares of Freshpet stock opened at $132.36 on Tuesday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 735.37 and a beta of 1.36. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $124.27 and its 200-day simple moving average is $107.00. Freshpet has a 52 week low of $54.60 and a 52 week high of $132.84.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.43. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. The company had revenue of $223.85 million for the quarter, compared to analysts’ expectations of $216.43 million. As a group, analysts expect that Freshpet will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total value of $792,780.00. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $11,368,333.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 13,560 shares of company stock valued at $1,701,580 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

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

About Freshpet

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.