Truist Financial Boosts Freshpet (NASDAQ:FRPT) Price Target to $170.00

Freshpet (NASDAQ:FRPT) had its price target boosted by equities researchers at Truist Financial from $160.00 to $170.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 9.49% from the company’s current price.

FRPT has been the subject of a number of other reports. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a report on Friday, November 1st. Robert W. Baird increased their price target on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen increased their target price on shares of Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup boosted their target price on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $156.13.

Freshpet Stock Up 2.4 %

Shares of Freshpet stock opened at $155.27 on Tuesday. The firm has a market cap of $7.53 billion, a P/E ratio of 174.46 and a beta of 1.39. The business has a 50-day moving average price of $138.60 and a 200 day moving average price of $129.81. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. Freshpet has a fifty-two week low of $65.81 and a fifty-two week high of $157.10.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, sell-side analysts forecast that Freshpet will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FRPT. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet during the 3rd quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of Freshpet during the second quarter worth approximately $32,000. Whittier Trust Co. bought a new position in shares of Freshpet in the first quarter valued at approximately $41,000. GAMMA Investing LLC boosted its holdings in shares of Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after acquiring an additional 108 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the last quarter.

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.