Freshpet (NASDAQ:FRPT) Price Target Raised to $170.00 at Truist Financial

Freshpet (NASDAQ:FRPT) had its price objective raised by Truist Financial from $160.00 to $170.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on FRPT. Benchmark reissued a “buy” rating and set a $150.00 price objective on shares of Freshpet in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Citigroup upped their price objective on shares of Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus upped their price target on shares of Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

Freshpet Price Performance

Shares of FRPT opened at $151.59 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. The firm has a market cap of $7.35 billion, a PE ratio of 170.33 and a beta of 1.39. The firm’s 50 day moving average price is $138.19 and its 200 day moving average price is $129.63. Freshpet has a twelve month low of $65.81 and a twelve month high of $154.80.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. Freshpet’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, research analysts expect that Freshpet will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. bought a new position in Freshpet during the first quarter worth about $41,000. Duality Advisers LP acquired a new stake in Freshpet in the 1st quarter valued at $854,000. Envestnet Portfolio Solutions Inc. bought a new stake in Freshpet in the first quarter valued at $244,000. Quantbot Technologies LP acquired a new position in Freshpet during the first quarter worth $3,388,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Freshpet during the first quarter valued at $295,000.

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.