Freshpet, Inc. (NASDAQ:FRPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $163.36.

Several equities analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company increased their price target on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Insiders Place Their Bets

In related news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total transaction of $786,900.00. Following the sale, the president now owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,500 shares of company stock valued at $1,962,175. Insiders own 3.70% of the company’s stock.

Institutional Trading of Freshpet

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 Freshpet during the third quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet in the 3rd quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of 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 purchasing an additional 367 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Freshpet during the 2nd quarter valued at approximately $52,000. Finally, Brooklyn Investment Group purchased a new position in shares of Freshpet during the 3rd quarter valued at approximately $54,000.

Freshpet Price Performance

Shares of Freshpet stock opened at $145.17 on Wednesday. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 163.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock has a 50 day moving average price of $147.15 and a 200-day moving average price of $137.10. Freshpet has a one year low of $82.16 and a one year high of $160.91.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Freshpet’s quarterly revenue was up 26.3% compared to the same quarter last year. Equities analysts expect that Freshpet will post 0.9 EPS for the current year.

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.