Freshpet (NASDAQ:FRPT) Price Target Increased to $155.00 by Analysts at Oppenheimer

Freshpet (NASDAQ:FRPT) had its target price increased by equities researchers at Oppenheimer from $135.00 to $155.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 20.51% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. DA Davidson upped their price objective on shares of Freshpet from $138.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Benchmark raised their target price on Freshpet from $125.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Truist Financial upgraded shares of Freshpet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Freshpet in a research report on Thursday, May 23rd. They set a “buy” rating and a $150.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and an average price target of $129.00.

Freshpet Stock Performance

FRPT stock opened at $128.62 on Tuesday. The firm has a 50 day simple moving average of $121.34 and a 200 day simple moving average of $104.89. Freshpet has a 52 week low of $54.60 and a 52 week high of $132.84. The stock has a market cap of $6.23 billion, a P/E ratio of 714.60 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.09 and a current ratio of 4.97.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The business had revenue of $223.85 million for the quarter, compared to analysts’ expectations of $216.43 million. Research analysts anticipate that Freshpet will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,548 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $120.15, for a total value of $786,742.20. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at $10,337,585.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 13,560 shares of company stock worth $1,701,580 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Freshpet by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after purchasing an additional 13,709 shares during the period. Wellington Management Group LLP raised its holdings in Freshpet by 5.5% in the third quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after purchasing an additional 185,210 shares during the period. JANA Partners Management LP acquired a new stake in Freshpet in the third quarter worth $214,405,000. JPMorgan Chase & Co. raised its holdings in Freshpet by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock worth $139,576,000 after purchasing an additional 17,678 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Freshpet by 2.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,709,572 shares of the company’s stock worth $148,322,000 after purchasing an additional 47,862 shares during the period.

Freshpet Company Profile

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.