Freshpet (NASDAQ:FRPT) Trading Up 3.1% – Should You Buy?

Freshpet, Inc. (NASDAQ:FRPT) was up 3.1% during mid-day trading on Thursday . The stock traded as high as $111.62 and last traded at $110.23. Approximately 241,628 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,016,800 shares. The stock had previously closed at $106.88.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Freshpet from a “hold” rating to a “buy” rating and decreased their target price for the company from $155.00 to $150.00 in a research report on Monday, February 24th. Benchmark reissued a “buy” rating and set a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. StockNews.com downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Citigroup dropped their target price on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Piper Sandler dropped their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.47.

Freshpet Price Performance

The company’s 50-day moving average price is $141.88 and its 200-day moving average price is $142.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a market cap of $5.21 billion, a P/E ratio of 113.86 and a beta of 1.42.

Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, February 20th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. As a group, sell-side analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now owns 122,380 shares in the company, valued at $19,260,164.40. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Freshpet

A number of hedge funds have recently modified their holdings of FRPT. M&T Bank Corp increased its position in Freshpet by 3.2% during the fourth quarter. M&T Bank Corp now owns 2,253 shares of the company’s stock worth $333,000 after acquiring an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Freshpet by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after buying an additional 75 shares during the period. Vident Advisory LLC boosted its position in Freshpet by 4.0% during the 4th quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock worth $313,000 after buying an additional 82 shares during the period. Freedom Investment Management Inc. lifted its position in shares of Freshpet by 5.3% in the 4th quarter. Freedom Investment Management Inc. now owns 1,678 shares of the company’s stock worth $249,000 after purchasing an additional 84 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Freshpet by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $85,000 after purchasing an additional 92 shares during the period.

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.