Freshpet (NASDAQ:FRPT) Rating Reiterated by Piper Sandler

Piper Sandler restated their overweight rating on shares of Freshpet (NASDAQ:FRPT) in a research report report published on Tuesday, Benzinga reports. They currently have a $150.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Truist Financial raised Freshpet from a hold rating to a buy rating and raised their price target for the stock from $120.00 to $135.00 in a research report on Monday, March 11th. TD Cowen boosted their target price on shares of Freshpet from $128.00 to $143.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Robert W. Baird upped their target price on shares of Freshpet from $125.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, May 7th. DA Davidson lifted their price target on shares of Freshpet from $138.00 to $153.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Finally, Benchmark upped their price objective on shares of Freshpet from $125.00 to $150.00 and gave the company a buy rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $130.25.

Freshpet Trading Up 0.1 %

NASDAQ:FRPT opened at $132.47 on Tuesday. Freshpet has a 52-week low of $54.60 and a 52-week high of $134.30. 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 fifty day simple moving average of $125.38 and a 200-day simple moving average of $107.51. The company has a market capitalization of $6.42 billion, a PE ratio of 735.94 and a beta of 1.36.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.43. The company had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. On average, equities research analysts expect that Freshpet will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Freshpet

In other news, EVP Stephen Macchiaverna sold 6,548 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.15, for a total transaction of $786,742.20. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $10,337,585.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 13,560 shares of company stock worth $1,701,580 in the last three months. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JANA Partners Management LP purchased a new position in Freshpet in the third quarter valued at about $214,405,000. Norges Bank purchased a new stake in shares of Freshpet during the 4th quarter valued at about $40,327,000. Jennison Associates LLC lifted its position in Freshpet by 36.6% during the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after acquiring an additional 245,403 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Freshpet by 211.6% in the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after acquiring an additional 234,836 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in Freshpet by 3,434.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock valued at $19,635,000 after acquiring an additional 219,913 shares in the last quarter.

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.