Freshpet (NASDAQ:FRPT) Shares Up 5.3% – Still a Buy?

Freshpet, Inc. (NASDAQ:FRPT) shares rose 5.3% during trading on Friday. The company traded as high as $67.57 and last traded at $68.0440. 433,971 shares traded hands during trading, a decline of 69% from the average daily volume of 1,388,315 shares. The stock had previously closed at $64.63.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FRPT shares. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a report on Monday, October 5th. Stifel Nicolaus boosted their price objective on shares of Freshpet from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Freshpet from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings upgraded shares of Freshpet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Freshpet from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Freshpet Trading Up 5.3%

The business has a 50 day moving average of $64.13 and a 200-day moving average of $63.79. The stock has a market cap of $3.29 billion, a PE ratio of 26.87 and a beta of 1.75. The company has a current ratio of 5.68, a quick ratio of 4.65 and a debt-to-equity ratio of 0.35.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.19. Freshpet had a return on equity of 6.39% and a net margin of 10.90%. The company had revenue of $317.84 million during the quarter, compared to the consensus estimate of $312.02 million. During the same quarter last year, the business posted $1.86 earnings per share. Freshpet’s revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Freshpet, Inc. will post 1.32 EPS for the current year.

Insiders Place Their Bets

In other Freshpet news, Director Walter N. George bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $64.92 per share, for a total transaction of $64,920.00. Following the completion of the purchase, the director owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This trade represents a 1.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William B. Cyr sold 2,657 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $75.40, for a total value of $200,337.80. Following the completion of the sale, the chief executive officer directly owned 49,044 shares in the company, valued at approximately $3,697,917.60. The trade was a 5.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 171,636 shares of company stock worth $12,754,864. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently made changes to their positions in FRPT. Wealth Alliance LLC purchased a new stake in Freshpet during the third quarter valued at about $204,000. AlphaGrep UK Ltd purchased a new position in shares of Freshpet in the 3rd quarter worth about $255,000. First Trust Advisors LP lifted its stake in shares of Freshpet by 8.8% in the 3rd quarter. First Trust Advisors LP now owns 210,203 shares of the company’s stock valued at $12,099,000 after purchasing an additional 16,996 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in shares of Freshpet by 4.0% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 105,088 shares of the company’s stock valued at $6,049,000 after purchasing an additional 3,994 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Freshpet by 6.1% during the 3rd quarter. Voya Investment Management LLC now owns 3,929 shares of the company’s stock worth $226,000 after purchasing an additional 226 shares in the last quarter.

Freshpet Company Profile

Freshpet, Inc. makes and markets fresh, refrigerated food and treats for dogs and cats. Founded in 2006, the company focuses on recipes made with fresh ingredients and positioned as an alternative to shelf-stable pet food. Its products are sold under brands including Freshpet, Freshpet Select, Vital and Nature’s Fresh. Freshpet distributes them through refrigerated displays in grocery, mass-market, club and pet specialty stores, as well as through online retailers. The company primarily serves customers in the United States and Canada and also sells its products in select international markets.