Freshpet (NASDAQ:FRPT) Upgraded at Redburn Atlantic

Redburn Atlantic upgraded shares of Freshpet (NASDAQ:FRPT) from a neutral rating to a buy rating in a research report released on Thursday morning, MarketBeat.com reports. The firm currently has $168.00 price objective on the stock.

Several other research firms also recently weighed in on FRPT. TD Cowen boosted their target price on Freshpet from $128.00 to $143.00 and gave the company a buy rating in a report on Tuesday, May 7th. Robert W. Baird boosted their price objective on Freshpet from $125.00 to $135.00 and gave the company an outperform rating in a research note on Tuesday, May 7th. Oppenheimer raised their target price on shares of Freshpet from $120.00 to $135.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. 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 research report on Tuesday, February 27th. Finally, StockNews.com raised shares of Freshpet to a sell rating in a research report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet currently has an average rating of Moderate Buy and a consensus price target of $124.63.

Freshpet Price Performance

FRPT stock opened at $130.69 on Thursday. The business has a 50 day moving average price of $114.59 and a 200 day moving average price of $95.65. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 726.10 and a beta of 1.24. Freshpet has a fifty-two week low of $54.60 and a fifty-two week high of $131.55.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.43. The business had revenue of $223.85 million during the quarter, compared to the consensus estimate of $216.43 million. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. Equities research analysts anticipate that Freshpet will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 1,012 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $120.61, for a total transaction of $122,057.32. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $10,377,163.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Freshpet news, EVP Stephen Macchiaverna sold 1,012 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total transaction of $122,057.32. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $10,377,163.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott James Morris sold 2,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the completion of the transaction, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,921,948.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,322 shares of company stock valued at $2,646,080. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

Several institutional investors have recently modified their holdings of the company. Oak Thistle LLC acquired a new position in Freshpet during the fourth quarter worth $1,200,000. Impax Asset Management Group plc acquired a new position in shares of Freshpet during the 4th quarter worth $4,338,000. Nicholas Investment Partners LP acquired a new position in shares of Freshpet during the 4th quarter worth $2,278,000. Trust Point Inc. purchased a new stake in shares of Freshpet in the 4th quarter worth about $963,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Freshpet by 89.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 90,997 shares of the company’s stock valued at $7,895,000 after acquiring an additional 42,973 shares during the last quarter.

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.