Freshpet, Inc. (NASDAQ:FRPT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $107.36.

FRPT has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Piper Sandler lifted their target price on Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. TheStreet raised Freshpet from a “d+” rating to a “c-” rating in a research note on Thursday, December 21st. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and increased their target price for the stock from $120.00 to $135.00 in a report on Monday, March 11th. Finally, Citigroup initiated coverage on shares of Freshpet in a report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price target on the stock.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Scott James Morris sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $113.76, for a total value of $284,400.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,921,948.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total value of $773,818.90. Following the transaction, the executive vice president now directly owns 85,056 shares in the company, valued at $9,231,127.68. The disclosure for this sale can be found here. Insiders sold 15,762 shares of company stock worth $1,737,280 in the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

Hedge funds and other institutional investors have recently modified their holdings of the company. RiverPark Advisors LLC acquired a new stake in Freshpet in the 3rd quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in shares of Freshpet in the fourth quarter valued at $29,000. GAMMA Investing LLC grew its holdings in shares of Freshpet by 100.8% during the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after buying an additional 132 shares during the last quarter. Quarry LP bought a new stake in shares of Freshpet during the fourth quarter worth about $40,000. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Freshpet by 617.3% in the 4th quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock worth $50,000 after acquiring an additional 500 shares during the last quarter.

Freshpet Trading Down 1.2 %

Shares of Freshpet stock opened at $103.84 on Friday. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44. Freshpet has a 12-month low of $54.60 and a 12-month high of $117.76. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -146.25 and a beta of 1.23. The firm’s 50-day moving average price is $106.09 and its two-hundred day moving average price is $85.28.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. The company had revenue of $215.40 million during the quarter, compared to the consensus estimate of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, analysts forecast that Freshpet will post 0.07 earnings per share for the current fiscal year.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.