Freshpet (NASDAQ:FRPT) Raised to Hold at StockNews.com

Freshpet (NASDAQ:FRPT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other analysts also recently issued reports on the company. Truist Financial raised their price target on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upped their price target on shares of Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. DA Davidson boosted their target price on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price target on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and an average target price of $156.13.

Freshpet Stock Performance

NASDAQ:FRPT traded down $1.36 during trading hours on Tuesday, reaching $155.08. 358,407 shares of the stock were exchanged, compared to its average volume of 585,987. The stock has a market capitalization of $7.53 billion, a P/E ratio of 174.25 and a beta of 1.39. The firm has a 50 day simple moving average of $140.13 and a 200-day simple moving average of $131.39. The company has a quick ratio of 3.69, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet has a 52 week low of $66.36 and a 52 week high of $159.12.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. During the same period last year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, sell-side analysts forecast that Freshpet will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Stephen Macchiaverna sold 2,178 shares of the 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 transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshpet

Several institutional investors have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in shares of Freshpet in the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new stake in shares of Freshpet during the second quarter worth $32,000. GAMMA Investing LLC increased its stake in shares of Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after buying an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Freshpet during the 2nd quarter worth about $52,000.

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.