Freshpet (NASDAQ:FRPT) Hits New 12-Month High – Still a Buy?

Freshpet, Inc. (NASDAQ:FRPT)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $144.63 and last traded at $144.08, with a volume of 146788 shares trading hands. The stock had previously closed at $141.98.

Analyst Ratings Changes

Several equities research analysts recently commented on FRPT shares. Bank of America upped their target price on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Citigroup increased their price target on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Robert W. Baird increased their price target on Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company increased their price target on Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.87.

Freshpet Stock Up 1.5 %

The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $6.98 billion, a PE ratio of 788.78 and a beta of 1.39. The stock has a 50-day moving average of $135.72 and a 200 day moving average of $126.46.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business 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 business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. Sell-side analysts anticipate that Freshpet, Inc. will post 0.72 EPS for the current year.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Freshpet

Several large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in Freshpet during the third quarter valued at $29,000. CWM LLC boosted its stake in Freshpet by 828.4% during the third quarter. CWM LLC now owns 4,605 shares of the company’s stock valued at $630,000 after buying an additional 4,109 shares during the period. GAMMA Investing LLC boosted its stake in Freshpet by 29.6% during the third quarter. GAMMA Investing LLC now owns 481 shares of the company’s stock valued at $66,000 after buying an additional 110 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Freshpet during the second quarter valued at $52,000. Finally, Quarry LP boosted its stake in Freshpet by 275.2% during the second quarter. Quarry LP now owns 439 shares of the company’s stock valued at $57,000 after buying an additional 322 shares during the period.

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.