DA Davidson Issues Positive Forecast for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its target price lifted by DA Davidson from $98.00 to $101.00 in a report released on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on FRPT. JPMorgan Chase & Co. cut their price target on Freshpet from $80.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Oppenheimer raised Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, March 20th. Weiss Ratings raised Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, December 29th. Benchmark raised their price target on Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $90.00 price target on shares of Freshpet in a research note on Tuesday, February 24th. Ten research analysts have rated the stock with a Buy rating, seven 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.94.

Freshpet Trading Up 5.3%

Shares of NASDAQ FRPT opened at $68.25 on Monday. Freshpet has a one year low of $46.76 and a one year high of $89.80. The firm has a market capitalization of $3.35 billion, a PE ratio of 26.56 and a beta of 1.78. The company has a current ratio of 5.54, a quick ratio of 4.57 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $70.46 and a two-hundred day moving average price of $63.03.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Freshpet will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FRPT. Royal Bank of Canada raised its stake 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 in the last quarter. Jones Financial Companies Lllp raised its stake in shares of 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 acquiring an additional 1,593 shares in the last quarter. United Services Automobile Association bought a new position in shares of Freshpet in the 1st quarter valued at approximately $247,000. EverSource Wealth Advisors LLC raised its stake in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 472 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in Freshpet by 140.3% in the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock worth $428,000 after buying an additional 3,676 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.