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

Freshpet, Inc. (NASDAQ:FRPT) has received an average recommendation of “Hold” from the seventeen research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $73.60.

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Bank of America upped their price target on shares of Freshpet from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Zacks Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. UBS Group set a $48.00 price objective on shares of Freshpet and gave the stock a “sell” rating in a research note on Tuesday, November 4th. Finally, TD Cowen reissued a “hold” rating on shares of Freshpet in a research report on Thursday, January 8th.

Freshpet Stock Down 0.2%

Shares of FRPT stock opened at $74.51 on Monday. The stock’s fifty day moving average price is $66.55 and its 200 day moving average price is $59.52. Freshpet has a 1-year low of $46.76 and a 1-year high of $111.62. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,142 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the transaction, the president directly owned 30,858 shares in the company, valued at $1,923,379.14. This trade represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Freshpet by 86.3% in the 1st quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after acquiring an additional 31,334 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Freshpet by 734.1% during the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after purchasing an additional 1,593 shares during the period. United Services Automobile Association purchased a new stake in Freshpet in the first quarter valued at $247,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Freshpet in the second quarter valued at $232,000. Finally, Ethic Inc. grew its position in Freshpet by 40.8% during the 2nd quarter. Ethic Inc. now owns 3,690 shares of the company’s stock worth $252,000 after purchasing an additional 1,069 shares during the period.

About Freshpet

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.