Freshpet (NASDAQ:FRPT) Price Target Raised to $67.00

by · The Cerbat Gem

Freshpet (NASDAQ:FRPT – Free Report) had its price target boosted by Bank of America from $60.00 to $67.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently issued reports on FRPT. Wells Fargo & Company lowered their price objective on shares of Freshpet from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Truist Financial decreased their target price on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $56.00 price target on shares of Freshpet in a research note on Tuesday, November 4th. JPMorgan Chase & Co. cut their price objective on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, Zacks Research upgraded Freshpet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $82.63.

Get Our Latest Stock Analysis on Freshpet

Freshpet Stock Down 4.6%

Shares of Freshpet stock opened at $62.61 on Friday. Freshpet has a twelve month low of $46.76 and a twelve month high of $164.07. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 0.84 and a beta of 1.72. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $56.61 and a 200 day moving average price of $61.00.

Freshpet (NASDAQ:FRPT – Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $1.43. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.The company had revenue of $288.85 million for the quarter, compared to analysts’ expectations of $283.73 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Equities research analysts forecast that Freshpet will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,142 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $62.33, for a total value of $320,500.86. Following the sale, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. This represents a 14.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB bought a new stake in shares of Freshpet during the second quarter valued at about $648,000. Jump Financial LLC grew its position in Freshpet by 688.5% in the 1st quarter. Jump Financial LLC now owns 96,542 shares of the company’s stock valued at $8,029,000 after buying an additional 84,299 shares in the last quarter. AQR Capital Management LLC increased its stake in Freshpet by 68.8% during the 1st quarter. AQR Capital Management LLC now owns 227,225 shares of the company’s stock valued at $18,817,000 after buying an additional 92,612 shares during the period. Rhumbline Advisers increased its stake in Freshpet by 131.0% during the 1st quarter. Rhumbline Advisers now owns 106,438 shares of the company’s stock valued at $8,852,000 after buying an additional 60,352 shares during the period. Finally, Northern Trust Corp raised its position in shares of Freshpet by 17.1% during the 1st quarter. Northern Trust Corp now owns 478,326 shares of the company’s stock worth $39,782,000 after buying an additional 69,693 shares in the last quarter.

About Freshpet

(Get Free Report)

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.

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