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

Freshpet, Inc. (NASDAQ:FRPTGet Rating) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $78.23.

Several equities analysts recently commented on FRPT shares. Cowen dropped their price objective on Freshpet from $97.00 to $82.00 in a research note on Wednesday, November 2nd. Piper Sandler increased their target price on Freshpet from $69.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 7th. Cowen lowered their price objective on Freshpet from $82.00 to $80.00 in a research report on Friday, January 6th. Citigroup upgraded Freshpet from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $32.00 to $66.00 in a research report on Thursday, November 3rd. Finally, Credit Suisse Group increased their price objective on Freshpet from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sigma Planning Corp bought a new position in shares of Freshpet during the fourth quarter valued at about $203,000. Xponance Inc. bought a new position in shares of Freshpet during the fourth quarter valued at about $219,000. Redwood Investments LLC grew its stake in shares of Freshpet by 17.4% during the fourth quarter. Redwood Investments LLC now owns 249,505 shares of the company’s stock valued at $13,166,000 after buying an additional 36,973 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Freshpet by 48.8% during the third quarter. Bank of New York Mellon Corp now owns 1,346,213 shares of the company’s stock valued at $67,432,000 after buying an additional 441,721 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Freshpet by 4.7% during the third quarter. California State Teachers Retirement System now owns 59,198 shares of the company’s stock valued at $2,965,000 after buying an additional 2,665 shares during the last quarter.

Freshpet Trading Down 1.2 %

Freshpet stock opened at $61.26 on Wednesday. Freshpet has a 12 month low of $36.02 and a 12 month high of $118.77. The business’s 50 day simple moving average is $58.53 and its 200 day simple moving average is $53.89. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -42.25 and a beta of 0.90.

Freshpet (NASDAQ:FRPTGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.16). Freshpet had a negative net margin of 12.07% and a negative return on equity of 7.55%. The firm had revenue of $151.33 million during the quarter, compared to analysts’ expectations of $147.82 million. As a group, equities research analysts forecast that Freshpet will post -1.31 earnings per share for the current fiscal year.

Freshpet Company Profile

(Get Rating)

Freshpet, Inc is engaged in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. The firm foods are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.

Further Reading

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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