Freshpet (NASDAQ:FRPT) Price Target Raised to $180.00

Freshpet (NASDAQ:FRPT) had its target price lifted by Oppenheimer from $155.00 to $180.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

FRPT has been the topic of several other research reports. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Truist Financial upped their price objective on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird raised their target price on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Freshpet from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and an average price target of $157.80.

Freshpet Trading Down 0.6 %

Shares of NASDAQ:FRPT opened at $150.00 on Thursday. The firm has a fifty day moving average of $140.98 and a two-hundred day moving average of $132.16. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet has a 12-month low of $68.14 and a 12-month high of $159.12. The firm has a market capitalization of $7.28 billion, a P/E ratio of 168.54 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data 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. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities analysts expect that Freshpet will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 in the company, valued at $12,046,320.39. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new position in Freshpet in the third quarter worth about $29,000. ORG Partners LLC bought a new position in shares of Freshpet during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC boosted its stake in Freshpet by 41.1% in the 2nd 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. boosted its stake in Freshpet by 3,670.0% in the 2nd 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 in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Freshpet in the second quarter valued at $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.