Freshpet (NASDAQ:FRPT) PT Raised to $153.00

Freshpet (NASDAQ:FRPT) had its price target upped by stock analysts at DA Davidson from $138.00 to $153.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 28.34% from the company’s previous close.

FRPT has been the subject of several other reports. Citigroup initiated coverage on Freshpet in a report on Thursday, February 1st. They issued a “neutral” rating and a $94.00 price target for the company. Piper Sandler boosted their target price on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and upped their price target for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. StockNews.com upgraded shares of Freshpet to a “sell” rating in a research note on Saturday, May 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.71.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $119.21 on Tuesday. The stock has a fifty day moving average price of $110.85 and a 200 day moving average price of $90.45. Freshpet has a 1-year low of $54.60 and a 1-year high of $127.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. The company has a market cap of $5.77 billion, a PE ratio of 662.28 and a beta of 1.24.

Freshpet (NASDAQ:FRPT) last issued 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 business had revenue of $215.40 million for the quarter, compared to the consensus estimate of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Sell-side analysts forecast that Freshpet will post 0.07 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Oak Thistle LLC purchased a new stake in Freshpet in the fourth quarter valued at approximately $1,200,000. Impax Asset Management Group plc acquired a new stake in shares of Freshpet during the 4th quarter worth $4,338,000. Allspring Global Investments Holdings LLC raised its position in shares of Freshpet by 89.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 90,997 shares of the company’s stock worth $7,895,000 after buying an additional 42,973 shares during the period. Trust Point Inc. acquired a new position in Freshpet in the fourth quarter valued at $963,000. Finally, Jennison Associates LLC grew its position in Freshpet by 36.6% during the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after acquiring an additional 245,403 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.