Freshpet (NASDAQ:FRPT) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Freshpet (NASDAQ:FRPTGet Rating) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “

Other equities analysts have also issued reports about the company. StockNews.com raised Freshpet to a sell rating in a research note on Tuesday. The Goldman Sachs Group upgraded Freshpet from a neutral rating to a buy rating and upped their price target for the stock from $111.00 to $136.00 in a report on Tuesday, March 29th. Oppenheimer decreased their price target on Freshpet from $120.00 to $110.00 in a report on Tuesday. Cowen decreased their price target on Freshpet from $181.00 to $163.00 and set an outperform rating for the company in a report on Tuesday. Finally, Benchmark assumed coverage on Freshpet in a report on Wednesday, April 27th. They set a buy rating and a $135.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $136.40.

Shares of FRPT stock traded down $2.93 during mid-day trading on Thursday, reaching $65.99. 6,327 shares of the stock traded hands, compared to its average volume of 574,259. The stock’s fifty day simple moving average is $100.53 and its two-hundred day simple moving average is $105.21. Freshpet has a 1-year low of $68.06 and a 1-year high of $183.38. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -83.04 and a beta of 0.73.

Freshpet (NASDAQ:FRPTGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Freshpet had a negative return on equity of 5.04% and a negative net margin of 7.83%. During the same period last year, the business earned ($0.26) earnings per share. Equities research analysts expect that Freshpet will post -0.53 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Freshpet by 1.9% in the 3rd quarter. BlackRock Inc. now owns 4,038,374 shares of the company’s stock valued at $576,234,000 after purchasing an additional 73,474 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of Freshpet by 49.2% in the fourth quarter. Wasatch Advisors Inc. now owns 3,308,323 shares of the company’s stock worth $315,184,000 after acquiring an additional 1,090,907 shares during the period. Capital Research Global Investors lifted its position in Freshpet by 7.1% during the fourth quarter. Capital Research Global Investors now owns 3,164,445 shares of the company’s stock valued at $301,477,000 after purchasing an additional 208,604 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Freshpet by 245.6% during the fourth quarter. Champlain Investment Partners LLC now owns 1,897,110 shares of the company’s stock valued at $180,738,000 after purchasing an additional 1,348,240 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Freshpet by 4.6% during the third quarter. Franklin Resources Inc. now owns 1,202,104 shares of the company’s stock valued at $171,528,000 after purchasing an additional 52,744 shares in the last quarter.

About Freshpet (Get Rating)

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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