JPMorgan Chase & Co. Raises Freshpet (NASDAQ:FRPT) Price Target to $126.00

Freshpet (NASDAQ:FRPT) had its target price raised by JPMorgan Chase & Co. from $113.00 to $126.00 in a research note released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on FRPT. StockNews.com upgraded shares of Freshpet to a sell rating in a research report on Saturday, May 4th. Benchmark lifted their price target on shares of Freshpet from $125.00 to $150.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. TD Cowen lifted their price target on shares of Freshpet from $128.00 to $143.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Citigroup lifted their price target on shares of Freshpet from $124.00 to $129.00 and gave the stock a neutral rating in a research report on Wednesday, July 17th. Finally, Piper Sandler reiterated an overweight rating and set a $150.00 price target on shares of Freshpet in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Freshpet has a consensus rating of Moderate Buy and an average price target of $140.60.

Freshpet Price Performance

FRPT stock traded down $1.18 during trading on Tuesday, hitting $128.12. 514,716 shares of the stock traded hands, compared to its average volume of 618,259. Freshpet has a one year low of $54.60 and a one year high of $136.35. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 711.78 and a beta of 1.36. The company has a 50 day simple moving average of $126.38 and a 200 day simple moving average of $114.46. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.06. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $230.99 million. During the same period last year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. Equities analysts expect that Freshpet will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total value of $792,780.00. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $11,368,333.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.

Institutional Trading of Freshpet

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC bought a new stake in shares of Freshpet in the second quarter worth $32,000. GAMMA Investing LLC increased its holdings in Freshpet by 100.8% during the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after buying an additional 132 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new position in Freshpet during the first quarter worth $36,000. Johnson Financial Group Inc. acquired a new position in Freshpet during the fourth quarter worth $29,000. Finally, Whittier Trust Co. acquired a new position in Freshpet during the first quarter worth $41,000.

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.