Freshpet (NASDAQ:FRPT) Stock Rating Upgraded by TD Cowen

Freshpet (NASDAQ:FRPT) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Finviz reports. The brokerage currently has a $80.00 target price on the stock. TD Cowen’s price objective suggests a potential upside of 26.90% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company raised their target price on shares of Freshpet from $82.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. DA Davidson set a $98.00 target price on shares of Freshpet in a research report on Wednesday, February 25th. Piper Sandler raised their target price on shares of Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Weiss Ratings raised shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 29th. Finally, Stephens reaffirmed an “overweight” rating and set a $90.00 target price on shares of Freshpet in a research report on Tuesday, February 24th. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Freshpet Stock Up 6.8%

Shares of NASDAQ FRPT opened at $63.04 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.57. The company has a market cap of $3.09 billion, a P/E ratio of 24.53, a PEG ratio of 1.97 and a beta of 1.78. Freshpet has a 1 year low of $46.76 and a 1 year high of $89.80. The firm has a 50-day simple moving average of $70.79 and a two-hundred day simple moving average of $62.57.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.21. The business had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. Research analysts anticipate that Freshpet will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Freshpet

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Freshpet by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock valued at $321,822,000 after buying an additional 128,499 shares during the period. Wasatch Advisors LP increased its holdings in Freshpet by 4.3% during the fourth quarter. Wasatch Advisors LP now owns 3,937,309 shares of the company’s stock valued at $239,900,000 after buying an additional 162,293 shares during the period. William Blair Investment Management LLC increased its holdings in Freshpet by 30.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after buying an additional 461,444 shares during the period. Capital World Investors increased its holdings in Freshpet by 7.1% during the fourth quarter. Capital World Investors now owns 1,587,691 shares of the company’s stock valued at $96,738,000 after buying an additional 104,913 shares during the period. Finally, Armistice Capital LLC increased its holdings in Freshpet by 5.0% during the fourth quarter. Armistice Capital LLC now owns 1,296,000 shares of the company’s stock valued at $78,965,000 after buying an additional 61,198 shares during the period.

About Freshpet

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.