Freshpet (NASDAQ:FRPT) Stock Rating Upgraded by Jefferies Financial Group

Freshpet (NASDAQ:FRPT) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a $150.00 price objective on the stock, down from their previous price objective of $155.00. Jefferies Financial Group’s price target would indicate a potential upside of 40.13% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler cut their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Robert W. Baird boosted their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Benchmark reaffirmed a “buy” rating and issued a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. Finally, Stifel Nicolaus dropped their price objective on Freshpet from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.47.

Freshpet Trading Down 0.5 %

NASDAQ:FRPT opened at $107.04 on Monday. Freshpet has a 52 week low of $97.48 and a 52 week high of $164.07. The firm has a 50-day moving average price of $143.97 and a two-hundred day moving average price of $142.83. 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 firm has a market cap of $5.21 billion, a price-to-earnings ratio of 113.87 and a beta of 1.42.

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

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction 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 represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

A number of large investors have recently modified their holdings of the company. WCM Investment Management LLC lifted its stake in Freshpet by 749.7% in the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares in the last quarter. Norges Bank bought a new position in shares of Freshpet in the fourth quarter worth $75,253,000. Allspring Global Investments Holdings LLC raised its position in shares of Freshpet by 198.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 381,385 shares of the company’s stock worth $55,065,000 after buying an additional 253,679 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock valued at $32,090,000 after buying an additional 186,889 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock valued at $60,135,000 after buying an additional 154,909 shares during the period.

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.