Freshpet (NASDAQ:FRPT) Price Target Raised to $135.00 at Robert W. Baird

Freshpet (NASDAQ:FRPT) had its target price upped by Robert W. Baird from $125.00 to $135.00 in a research note released on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. 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 report on Thursday, April 11th. Piper Sandler boosted their target price on shares of Freshpet from $100.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Freshpet from $67.00 to $102.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Citigroup assumed coverage on shares of Freshpet in a report on Thursday, February 1st. They issued a neutral rating and a $94.00 target price on the stock. Finally, DA Davidson boosted their price target on shares of Freshpet from $104.00 to $138.00 and gave the company a buy rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Freshpet currently has a consensus rating of Moderate Buy and a consensus price target of $119.71.

Freshpet Stock Performance

NASDAQ:FRPT opened at $120.70 on Tuesday. The company’s 50-day moving average price is $110.64 and its 200-day moving average price is $90.00. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.85 billion, a P/E ratio of -170.00 and a beta of 1.24. Freshpet has a twelve month low of $54.60 and a twelve month high of $127.25.

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

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at approximately $9,231,127.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the transaction, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott James Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $113.76, for a total transaction of $284,400.00. Following the transaction, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,921,948.80. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock valued at $1,737,280 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. RiverPark Advisors LLC acquired a new position in Freshpet during the 3rd quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new position in Freshpet during the 4th quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings in Freshpet by 100.8% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after acquiring an additional 132 shares in the last quarter. Blue Bell Private Wealth Management LLC acquired a new position in Freshpet during the 1st quarter worth approximately $36,000. Finally, Quarry LP acquired a new position in shares of Freshpet in the 4th quarter valued at $40,000.

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.