DA Davidson Increases Freshpet (NASDAQ:FRPT) Price Target to $189.00

Freshpet (NASDAQ:FRPT) had its target price lifted by analysts at DA Davidson from $183.00 to $189.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 24.68% from the stock’s previous close.

FRPT has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, October 18th. TD Cowen increased their target price on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a report on Friday. Finally, Bank of America raised their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. 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’s stock. Based on data from MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $155.47.

Freshpet Price Performance

NASDAQ:FRPT traded up $1.02 during trading hours on Tuesday, hitting $151.59. 860,044 shares of the company’s stock traded hands, compared to its average volume of 582,760. The firm has a market cap of $7.35 billion, a P/E ratio of 170.33 and a beta of 1.39. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $137.88 and its two-hundred day simple moving average is $129.30. Freshpet has a 52 week low of $65.81 and a 52 week high of $154.80.

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

Insider Activity at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new stake in Freshpet in the third quarter worth $29,000. ORG Partners LLC bought a new position in Freshpet in the second quarter worth about $32,000. Whittier Trust Co. purchased a new stake in Freshpet in the first quarter worth about $41,000. GAMMA Investing LLC lifted its holdings in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after buying an additional 108 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after acquiring an additional 367 shares in the last quarter.

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.