TD Cowen Raises Freshpet (NASDAQ:FRPT) Price Target to $143.00

Freshpet (NASDAQ:FRPT) had its price objective hoisted by TD Cowen from $128.00 to $143.00 in a research report released on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Piper Sandler increased their price objective on shares of Freshpet from $100.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, February 27th. StockNews.com raised shares of Freshpet to a sell rating in a research note on Saturday. Stifel Nicolaus raised their price target on shares of Freshpet from $115.00 to $135.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Oppenheimer raised their price target on shares of Freshpet from $120.00 to $135.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Freshpet from $67.00 to $102.00 and gave the stock a neutral rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Freshpet currently has an average rating of Moderate Buy and an average target price of $119.71.

Freshpet Stock Performance

FRPT opened at $120.70 on Tuesday. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -170.00 and a beta of 1.24. Freshpet has a 52-week low of $54.60 and a 52-week high of $127.25. The firm’s fifty day simple moving average is $110.64 and its two-hundred day simple moving average is $90.00.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million for 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 company’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. Equities analysts anticipate that Freshpet will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Freshpet

Several large investors have recently added to or reduced their stakes in FRPT. JANA Partners Management LP purchased a new stake in Freshpet during the 3rd quarter worth approximately $214,405,000. Norges Bank purchased a new stake in Freshpet during the 4th quarter worth approximately $40,327,000. Lord Abbett & CO. LLC purchased a new stake in Freshpet during the 3rd quarter worth approximately $28,044,000. Jennison Associates LLC increased its stake in Freshpet by 36.6% during the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after buying an additional 245,403 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Freshpet by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock worth $30,002,000 after buying an additional 234,836 shares during the period.

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.