Freshpet, Inc. (NASDAQ:FRPT) Given Consensus Rating of “Moderate Buy” by Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $163.36.

Several research analysts have issued reports on the company. DA Davidson raised their target price on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a report on Friday, November 1st. Truist Financial boosted their target price on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

Insider Activity at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total transaction of $790,650.00. Following the completion of the sale, the president now owns 122,380 shares in the company, valued at approximately $19,351,949.40. This represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,500 shares of company stock valued at $1,962,175. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Transcendent Capital Group LLC purchased a new stake in shares of Freshpet during the 3rd quarter worth approximately $1,465,000. Geode Capital Management LLC increased its position in Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Geneva Capital Management LLC raised its stake in Freshpet by 166.2% during the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after purchasing an additional 52,584 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Freshpet during the second quarter valued at $4,299,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Freshpet by 54.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after buying an additional 154,909 shares in the last quarter.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $145.17 on Wednesday. The firm’s 50-day moving average price is $147.15 and its 200-day moving average price is $137.10. Freshpet has a 52-week low of $82.16 and a 52-week high of $160.91. The company has a market cap of $7.05 billion, a PE ratio of 163.11 and a beta of 1.41. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, analysts anticipate that Freshpet will post 0.9 EPS for the current 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.