Freshpet (NASDAQ:FRPT) Upgraded at StockNews.com

StockNews.com upgraded shares of Freshpet (NASDAQ:FRPT) to a sell rating in a report released on Saturday.

FRPT has been the topic of several other reports. Citigroup began coverage on Freshpet in a report on Thursday, February 1st. They set a neutral rating and a $94.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Freshpet from $115.00 to $135.00 and gave the stock a buy rating in a report on Thursday, April 11th. Piper Sandler upped their price target on shares of Freshpet from $100.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Oppenheimer raised their price objective on shares of Freshpet from $100.00 to $115.00 and gave the stock an outperform rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Freshpet from $67.00 to $102.00 and gave the stock a neutral rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Freshpet presently has an average rating of Moderate Buy and an average price target of $107.36.

Freshpet Price Performance

Shares of FRPT opened at $121.03 on Friday. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The stock has a market cap of $5.86 billion, a P/E ratio of -170.46 and a beta of 1.24. The stock’s 50-day moving average price is $110.42 and its two-hundred day moving average price is $89.54. Freshpet has a 1 year low of $54.60 and a 1 year high of $127.25.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.22. The firm had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.06) earnings per share. On average, equities analysts predict that Freshpet will post 0.07 earnings per share for the current year.

Insider Activity

In related news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at approximately $13,709,007.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Scott James Morris sold 2,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the sale, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,709,007.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at approximately $9,231,127.68. The disclosure for this sale can be found here. Insiders sold a total of 15,762 shares of company stock valued at $1,737,280 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in Freshpet by 44.3% during the 3rd quarter. SG Americas Securities LLC now owns 8,585 shares of the company’s stock worth $566,000 after purchasing an additional 2,637 shares during the last quarter. Raymond James & Associates boosted its position in shares of Freshpet by 7.9% in the third quarter. Raymond James & Associates now owns 15,777 shares of the company’s stock valued at $1,039,000 after acquiring an additional 1,153 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Freshpet by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 1,254,061 shares of the company’s stock valued at $82,617,000 after acquiring an additional 73,393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Freshpet by 22.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,986 shares of the company’s stock valued at $658,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Freshpet during the third quarter worth about $3,164,000.

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.