Freshpet (NASDAQ:FRPT) Reaches New 52-Week High – Should You Buy?

Freshpet, Inc. (NASDAQ:FRPT)’s stock price reached a new 52-week high on Monday . The stock traded as high as $161.94 and last traded at $161.84, with a volume of 77166 shares changing hands. The stock had previously closed at $158.36.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FRPT. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. TD Cowen lifted their target price on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.36.

Freshpet Price Performance

The company has a fifty day moving average of $150.35 and a 200 day moving average of $140.47. The firm has a market capitalization of $7.85 billion, a P/E ratio of 181.85 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The firm’s revenue was up 26.3% on a year-over-year basis. Sell-side analysts predict that Freshpet, Inc. will post 0.9 earnings per share for the current year.

Insider Transactions at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the transaction, the president now owns 122,380 shares in the company, valued at $19,260,164.40. This represents a 3.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock valued at $1,962,175 over the last ninety days. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FRPT. ORG Wealth Partners LLC bought a new position in shares of Freshpet during the 3rd quarter worth $29,000. Geneos Wealth Management Inc. lifted its holdings in Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet during the 3rd quarter worth about $32,000. R Squared Ltd purchased a new stake in Freshpet during the 4th quarter worth about $39,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares in 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.