Piper Sandler Reiterates “Overweight” Rating for Freshpet (NASDAQ:FRPT)

Freshpet (NASDAQ:FRPT)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued on Tuesday, Benzinga reports. They currently have a $150.00 price target on the stock. Piper Sandler’s price target points to a potential upside of 13.23% from the company’s current price.

Other analysts have also recently issued reports about the company. Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $135.00 in a research report on Monday, March 11th. Redburn Atlantic upgraded Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research report on Thursday, May 23rd. Benchmark boosted their price target on Freshpet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Wells Fargo & Company boosted their price target on Freshpet from $124.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus boosted their price target on Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.25.

Freshpet Trading Up 0.1 %

Freshpet stock opened at $132.47 on Tuesday. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. Freshpet has a 52 week low of $54.60 and a 52 week high of $134.30. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 735.99 and a beta of 1.36. The stock has a 50-day moving average price of $124.83 and a 200 day moving average price of $107.34.

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

Insider Activity

In other news, EVP Stephen Macchiaverna sold 1,012 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $120.61, for a total value of $122,057.32. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $10,377,163.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 13,560 shares of company stock worth $1,701,580 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Freshpet by 100.8% during the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after acquiring an additional 132 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in Freshpet during the first quarter worth about $36,000. Johnson Financial Group Inc. acquired a new stake in Freshpet during the fourth quarter worth about $29,000. Whittier Trust Co. acquired a new stake in Freshpet during the first quarter worth about $41,000. Finally, Quarry LP acquired a new stake in Freshpet during the fourth quarter worth about $40,000.

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.