TD Cowen Increases Freshpet (NASDAQ:FRPT) Price Target to $160.00

Freshpet (NASDAQ:FRPT) had its price objective upped by TD Cowen from $143.00 to $160.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Piper Sandler reiterated an overweight rating and issued a $150.00 target price on shares of Freshpet in a research note on Tuesday, July 2nd. Bank of America raised their price target on shares of Freshpet from $140.00 to $150.00 and gave the company a buy rating in a report on Wednesday, July 10th. Oppenheimer boosted their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock an outperform rating in a report on Tuesday, June 25th. Wells Fargo & Company lifted their target price on Freshpet from $140.00 to $145.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Finally, DA Davidson boosted their price target on Freshpet from $138.00 to $153.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $142.87.

Freshpet Trading Up 1.3 %

NASDAQ FRPT opened at $138.89 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. Freshpet has a one year low of $54.60 and a one year high of $143.06. The company’s 50 day moving average price is $128.25 and its 200 day moving average price is $120.46. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 771.61 and a beta of 1.36.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $230.99 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The business’s quarterly revenue was up 28.4% on a year-over-year basis. On average, sell-side analysts predict that Freshpet will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Several institutional investors and hedge funds have recently made changes to their positions in FRPT. Norges Bank acquired a new position in Freshpet in the fourth quarter worth $40,327,000. Victory Capital Management Inc. raised its stake in Freshpet by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after acquiring an additional 234,836 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Freshpet by 3,434.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after acquiring an additional 219,913 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Freshpet in the first quarter valued at approximately $17,845,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Freshpet during the 4th quarter worth approximately $12,395,000.

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.