TD Cowen Forecasts Strong Price Appreciation for Freshpet (NASDAQ:FRPT) Stock

Freshpet (NASDAQ:FRPT) had its price target boosted by analysts at TD Cowen from $160.00 to $174.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 12.07% from the stock’s current price.

FRPT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird increased their target price on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America increased their price objective on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus boosted their target price on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.13.

Freshpet Stock Up 2.4 %

Freshpet stock opened at $155.27 on Tuesday. The stock has a 50 day moving average of $138.60 and a two-hundred day moving average of $129.81. Freshpet has a twelve month low of $65.81 and a twelve month high of $157.10. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 174.46 and a beta of 1.39. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The firm had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a return on equity of 3.72% and a net margin of 4.75%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share. As a group, research analysts expect that Freshpet will post 0.73 earnings per share for the current year.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Freshpet

Several institutional investors have recently added to or reduced their stakes in FRPT. ORG Wealth Partners LLC acquired a new stake in Freshpet in the 3rd quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of Freshpet in the second quarter worth approximately $32,000. Whittier Trust Co. purchased a new stake in Freshpet in the first quarter valued at approximately $41,000. GAMMA Investing LLC increased its position in Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Freshpet by 3,670.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 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.