TD Cowen Issues Positive Forecast for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its target price boosted by TD Cowen from $56.00 to $61.00 in a report released on Thursday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Several other analysts have also recently issued reports on FRPT. Jefferies Financial Group reissued a “hold” rating and set a $56.00 price target on shares of Freshpet in a research report on Tuesday, November 4th. Morgan Stanley assumed coverage on shares of Freshpet in a report on Tuesday, December 16th. They set an “equal weight” rating and a $71.00 target price on the stock. UBS Group set a $48.00 price target on shares of Freshpet and gave the stock a “sell” rating in a research note on Tuesday, November 4th. Cowen reaffirmed a “hold” rating on shares of Freshpet in a research report on Thursday. Finally, DA Davidson decreased their target price on Freshpet from $101.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.75.

Freshpet Stock Down 0.2%

NASDAQ:FRPT opened at $61.93 on Thursday. Freshpet has a 52 week low of $46.76 and a 52 week high of $164.07. The stock’s fifty day moving average is $59.21 and its two-hundred day moving average is $59.90. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.52 and a beta of 1.71. The company has a quick ratio of 4.61, a current ratio of 5.52 and a debt-to-equity ratio of 0.36.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $1.43. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.The business had revenue of $288.85 million during the quarter, compared to analysts’ expectations of $283.73 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. Research analysts anticipate that Freshpet will post 1.55 EPS for the current year.

Insider Buying and Selling at Freshpet

In related news, President Scott James Morris sold 5,142 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.33, for a total transaction of $320,500.86. Following the completion of the sale, the president owned 30,858 shares in the company, valued at $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.43% of the company’s stock.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. True Wealth Design LLC boosted its holdings in shares of Freshpet by 2,307.7% in the 4th quarter. True Wealth Design LLC now owns 626 shares of the company’s stock valued at $38,000 after buying an additional 600 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Freshpet by 23.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,908 shares of the company’s stock valued at $1,116,000 after acquiring an additional 3,420 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Freshpet by 445.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after acquiring an additional 432 shares in the last quarter. GAMMA Investing LLC boosted its stake in Freshpet by 239.0% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the company’s stock valued at $110,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Freshpet by 129.3% during the third quarter. Allworth Financial LP now owns 727 shares of the company’s stock worth $40,000 after purchasing an additional 410 shares during the last quarter.

Freshpet Company Profile

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.