Freshpet (NASDAQ:FRPT) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Freshpet (NASDAQ:FRPT) in a report issued on Tuesday,Benzinga reports. They currently have a $140.00 target price on the stock, down from their previous target price of $170.00.

Several other analysts also recently weighed in on FRPT. Stifel Nicolaus decreased their price target on shares of Freshpet from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Wells Fargo & Company lowered their target price on shares of Freshpet from $170.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Oppenheimer decreased their target price on shares of Freshpet from $180.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup decreased their price target on shares of Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and an average target price of $156.47.

Freshpet Trading Down 0.5 %

Shares of NASDAQ:FRPT opened at $107.04 on Tuesday. The stock’s 50-day simple moving average is $143.97 and its two-hundred day simple moving average is $142.83. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 113.87 and a beta of 1.42. Freshpet has a 52-week low of $97.48 and a 52-week high of $164.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. Analysts expect that Freshpet will post 1.55 EPS for the current year.

Insider Buying and Selling at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the sale, the president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in FRPT. Blue Trust Inc. boosted its stake in shares of Freshpet by 2,770.4% during the third quarter. Blue Trust Inc. now owns 775 shares of the company’s stock worth $100,000 after buying an additional 748 shares during the period. Private Advisor Group LLC increased its holdings in Freshpet by 29.7% during the 3rd quarter. Private Advisor Group LLC now owns 2,316 shares of the company’s stock valued at $317,000 after acquiring an additional 531 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Freshpet during the third quarter valued at $795,000. Pallas Capital Advisors LLC acquired a new stake in Freshpet during the third quarter worth approximately $265,000. Finally, Farther Finance Advisors LLC grew its holdings in Freshpet by 12.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,277 shares of the company’s stock valued at $311,000 after buying an additional 257 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.