Freshpet (NASDAQ:FRPT) Price Target Raised to $174.00

Freshpet (NASDAQ:FRPT) had its price objective raised by TD Cowen from $160.00 to $174.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently commented on FRPT. Bank of America raised their target price on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Citigroup raised their price objective 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. Benchmark reiterated a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.13.

Freshpet Stock Down 1.3 %

Shares of NASDAQ FRPT opened at $153.22 on Tuesday. The company’s 50 day moving average price is $138.96 and its 200-day moving average price is $129.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. Freshpet has a 52-week low of $65.81 and a 52-week high of $157.10. The company has a market capitalization of $7.43 billion, a P/E ratio of 172.16 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Freshpet’s revenue for the quarter was up 26.3% on a year-over-year basis. Equities analysts forecast that Freshpet will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of Freshpet in the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new position in Freshpet in the second quarter worth $32,000. Whittier Trust Co. bought a new position in Freshpet in the 1st quarter valued at $41,000. GAMMA Investing LLC increased its position in shares of Freshpet by 41.1% during the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after purchasing an additional 367 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.