Freshpet, Inc. (NASDAQ:FRPT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been assigned an average rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $77.8750.

A number of equities research analysts recently weighed in on FRPT shares. Wells Fargo & Company boosted their price target on shares of Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Bank of America boosted their target price on Freshpet from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, December 19th. UBS Group set a $48.00 price target on Freshpet and gave the stock a “sell” rating in a research note on Tuesday, November 4th. Robert W. Baird cut their price target on Freshpet from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, Zacks Research raised Freshpet from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th.

Freshpet Stock Down 2.9%

FRPT stock traded down $2.01 during trading on Thursday, hitting $67.19. 70,807 shares of the company’s stock were exchanged, compared to its average volume of 1,107,932. The business has a 50-day moving average price of $64.37 and a two-hundred day moving average price of $59.55. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.71 and a beta of 1.72. Freshpet has a 52-week low of $46.76 and a 52-week high of $151.35.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $0.43 by $1.43. The business had revenue of $288.85 million during the quarter, compared to the consensus estimate of $283.73 million. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts expect that Freshpet will post 1.55 EPS for the current year.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,142 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the transaction, the president directly owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. This trade represents a 14.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently made changes to their positions in FRPT. Allworth Financial LP raised its stake in Freshpet by 41.0% during the 4th quarter. Allworth Financial LP now owns 1,025 shares of the company’s stock valued at $62,000 after acquiring an additional 298 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Freshpet by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock valued at $680,000 after purchasing an additional 161 shares during the period. Versor Investments LP raised its stake in shares of Freshpet by 38.9% during the fourth quarter. Versor Investments LP now owns 7,614 shares of the company’s stock worth $464,000 after purchasing an additional 2,131 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Freshpet by 516.8% during the fourth quarter. Washington Trust Advisors Inc. now owns 13,175 shares of the company’s stock worth $803,000 after purchasing an additional 11,039 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Freshpet by 9.6% during the fourth quarter. Truist Financial Corp now owns 23,877 shares of the company’s stock worth $1,455,000 after purchasing an additional 2,093 shares during the period.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.