Freshpet, Inc. (NASDAQ:FRPT) Given Consensus Rating of “Moderate Buy” by Analysts

Freshpet, Inc. (NASDAQ:FRPT) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $74.8750.

A number of analysts have recently weighed in on FRPT shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $63.00 target price on shares of Freshpet in a report on Thursday, May 7th. TD Cowen raised Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, April 8th. Stephens reiterated an “overweight” rating and issued a $90.00 price objective on shares of Freshpet in a report on Tuesday, February 24th. JPMorgan Chase & Co. upgraded Freshpet from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $66.00 to $68.00 in a research report on Thursday, May 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $77.00 target price on shares of Freshpet in a research note on Thursday, May 7th.

Insider Buying and Selling at Freshpet

In related news, Director Walter N. George acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was acquired at an average cost of $54.67 per share, for a total transaction of $109,340.00. Following the acquisition, the director owned 50,746 shares of the company’s stock, valued at $2,774,283.82. This trade represents a 4.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William B. Cyr sold 4,174 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $52.72, for a total transaction of $220,053.28. Following the completion of the sale, the chief executive officer directly owned 7,228 shares of the company’s stock, valued at approximately $381,060.16. This represents a 36.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in Freshpet by 86.3% in the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock worth $5,624,000 after buying an additional 31,334 shares during the period. Jones Financial Companies Lllp raised its position in shares of Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after acquiring an additional 1,593 shares in the last quarter. United Services Automobile Association bought a new position in shares of Freshpet in the 1st quarter worth approximately $247,000. EverSource Wealth Advisors LLC lifted its stake in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 472 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of Freshpet by 140.3% in the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after purchasing an additional 3,676 shares during the period.

Freshpet Stock Up 0.0%

Shares of NASDAQ FRPT opened at $49.35 on Friday. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet has a 52 week low of $46.76 and a 52 week high of $89.80. The firm’s fifty day moving average is $64.50 and its 200 day moving average is $64.28. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 13.20 and a beta of 1.73.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.21. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The business had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.66 million. During the same quarter in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Freshpet will post 1.71 earnings per share for the current year.

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.