Freshpet (NASDAQ:FRPT) Stock Rating Upgraded by StockNews.com

Freshpet (NASDAQ:FRPT) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Saturday.

FRPT has been the subject of several other reports. Citigroup started coverage on Freshpet in a research report on Thursday, February 1st. They issued a “neutral” rating and a $94.00 target price for the company. Oppenheimer boosted their price target on shares of Freshpet from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $135.00 in a report on Monday, March 11th. Piper Sandler boosted their target price on Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, DA Davidson raised their price target on Freshpet from $104.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Freshpet Stock Up 2.3 %

Shares of FRPT stock opened at $109.58 on Friday. Freshpet has a 12 month low of $54.60 and a 12 month high of $117.76. The firm has a market cap of $5.31 billion, a PE ratio of -154.34 and a beta of 1.24. The stock has a 50 day moving average of $109.84 and a 200-day moving average of $89.08. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The company had revenue of $215.40 million during the quarter, compared to analyst estimates of $204.93 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts predict that Freshpet will post 0.07 EPS for the current year.

Insider Activity at Freshpet

In related news, COO Scott James Morris sold 3,632 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $109.86, for a total value of $399,011.52. Following the transaction, the chief operating officer now owns 122,380 shares in the company, valued at $13,444,666.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Scott James Morris sold 3,632 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $109.86, for a total value of $399,011.52. Following the transaction, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,444,666.80. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock worth $1,737,280 over the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JANA Partners Management LP acquired a new stake in shares of Freshpet during the third quarter worth about $214,405,000. Norges Bank acquired a new stake in shares of Freshpet during the fourth quarter worth about $40,327,000. Lord Abbett & CO. LLC acquired a new stake in shares of Freshpet during the third quarter worth about $28,044,000. Jennison Associates LLC raised its position in shares of Freshpet by 36.6% during the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after purchasing an additional 245,403 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Freshpet by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after purchasing an additional 234,836 shares during the period.

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.