Benchmark Boosts Freshpet (NASDAQ:FRPT) Price Target to $150.00

Freshpet (NASDAQ:FRPTGet Free Report) had its target price upped by stock analysts at Benchmark from $125.00 to $150.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 15.45% from the company’s previous close.

Several other equities research analysts have also issued reports on FRPT. DA Davidson raised their price objective on Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Wells Fargo & Company raised their price objective on Freshpet from $124.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and raised their price target for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. Redburn Atlantic raised Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. raised their price target on Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.75.

Check Out Our Latest Report on FRPT

Freshpet Stock Performance

NASDAQ FRPT opened at $129.93 on Tuesday. The stock has a market capitalization of $6.29 billion, a PE ratio of 721.87 and a beta of 1.33. The business has a 50 day simple moving average of $118.36 and a two-hundred day simple moving average of $100.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.97 and a quick ratio of 4.09. Freshpet has a 1-year low of $54.60 and a 1-year high of $132.84.

Freshpet (NASDAQ:FRPTGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.43. The business had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. On average, research analysts predict that Freshpet will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $132.13, for a total value of $792,780.00. Following the completion of the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $11,368,333.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Freshpet news, COO Scott James Morris sold 3,632 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $109.86, for a total transaction of $399,011.52. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at approximately $13,444,666.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stephen Macchiaverna sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $132.13, for a total value of $792,780.00. Following the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at $11,368,333.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,192 shares of company stock valued at $2,100,591. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Freshpet

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after purchasing an additional 132 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Freshpet in the first quarter valued at approximately $36,000. Johnson Financial Group Inc. purchased a new stake in shares of Freshpet in the fourth quarter valued at approximately $29,000. Whittier Trust Co. purchased a new stake in shares of Freshpet in the first quarter valued at approximately $41,000. Finally, Quarry LP purchased a new stake in shares of Freshpet in the fourth quarter valued at approximately $40,000.

Freshpet Company Profile

(Get Free Report)

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.

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