TD Cowen Forecasts Strong Price Appreciation for Freshpet (NASDAQ:FRPT) Stock

Freshpet (NASDAQ:FRPT) had its price objective increased by TD Cowen from $160.00 to $174.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Citigroup increased their price objective on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird increased their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their price target on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.13.

Freshpet Stock Performance

Shares of FRPT opened at $156.45 on Tuesday. The company has a market capitalization of $7.59 billion, a PE ratio of 175.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. Freshpet has a one year low of $65.85 and a one year high of $159.12. The company’s fifty day moving average price is $139.37 and its 200 day moving average price is $130.33.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 3.72% and a net margin of 4.75%. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. During the same period last year, the business posted ($0.15) earnings per share. The firm’s revenue was up 26.3% compared to the same quarter last year. As a group, analysts expect that Freshpet will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently bought and sold shares of FRPT. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet in the third quarter valued at $29,000. ORG Partners LLC acquired a new stake in Freshpet in the 2nd quarter valued at about $32,000. Whittier Trust Co. acquired a new stake in Freshpet in the 1st quarter valued at about $41,000. GAMMA Investing LLC lifted its position in shares of Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Freshpet by 3,670.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after purchasing an additional 367 shares during the last quarter.

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.