Freshpet’s (FRPT) Buy Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of Freshpet (NASDAQ:FRPTFree Report) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $80.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird decreased their price target on Freshpet from $100.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Truist Financial lowered their price target on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. TD Cowen set a $60.00 price objective on shares of Freshpet in a report on Tuesday. Piper Sandler raised their price objective on Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings upgraded shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.73.

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Freshpet Trading Up 2.9%

NASDAQ:FRPT opened at $80.89 on Tuesday. The business’s 50-day moving average is $67.19 and its two-hundred day moving average is $59.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.61. Freshpet has a 12 month low of $46.76 and a 12 month high of $111.62. The firm has a market capitalization of $3.95 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 1.88 and a beta of 1.72.

Freshpet (NASDAQ:FRPTGet Free Report) last issued its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The company had revenue of $285.23 million during the quarter, compared to the consensus estimate of $285.66 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Freshpet will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In other news, President Scott James Morris sold 5,142 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the completion of the transaction, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. This represents a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Freshpet by 86.3% in the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock worth $5,624,000 after purchasing an additional 31,334 shares in the last quarter. Jones Financial Companies Lllp grew its position in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after buying an additional 1,593 shares in the last quarter. United Services Automobile Association acquired a new position in Freshpet during the 1st quarter valued at about $247,000. Ethic Inc. raised its position in shares of Freshpet by 40.8% during the 2nd quarter. Ethic Inc. now owns 3,690 shares of the company’s stock worth $252,000 after buying an additional 1,069 shares in the last quarter. Finally, AlphaQuest LLC raised its position in shares of Freshpet by 9.2% during the 2nd quarter. AlphaQuest LLC now owns 3,556 shares of the company’s stock worth $242,000 after buying an additional 300 shares in the last quarter.

Key Headlines Impacting Freshpet

Here are the key news stories impacting Freshpet this week:

About Freshpet

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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.

Further Reading

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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