Freshpet, Inc. (NASDAQ:FRPT) Receives $142.87 Consensus PT from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $142.87.

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Freshpet in a research note on Tuesday, July 2nd. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research note on Wednesday, August 7th. Oppenheimer boosted their price target on shares of Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Finally, Bank of America boosted their price target on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th.

Insiders Place Their Bets

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC acquired a new position in Freshpet during the second quarter worth $32,000. GAMMA Investing LLC boosted its position in Freshpet by 100.8% during the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after purchasing an additional 132 shares during the period. Blue Bell Private Wealth Management LLC bought a new stake in Freshpet during the first quarter worth approximately $36,000. Johnson Financial Group Inc. bought a new position in shares of Freshpet in the fourth quarter valued at approximately $29,000. Finally, Whittier Trust Co. acquired a new stake in shares of Freshpet in the first quarter worth $41,000.

Freshpet Stock Performance

NASDAQ:FRPT opened at $142.19 on Monday. Freshpet has a twelve month low of $54.60 and a twelve month high of $144.38. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $130.38 and a 200-day moving average of $123.56. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 789.94 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.06. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The business’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) earnings per share. Analysts forecast that Freshpet will post 0.72 earnings per share for the current fiscal year.

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.