Freshpet, Inc. (NASDAQ:FRPT) Given Consensus Recommendation of “Hold” by Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has received a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $81.50.

A number of equities analysts have recently commented on FRPT shares. JPMorgan Chase & Co. cut their price target on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $56.00 target price on shares of Freshpet in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research report on Monday, December 15th. Robert W. Baird dropped their price target on shares of Freshpet from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, TD Cowen reaffirmed a “hold” rating on shares of Freshpet in a research note on Thursday, January 8th.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $71.50 on Thursday. The stock has a market capitalization of $3.49 billion, a PE ratio of 31.22, a P/E/G ratio of 1.76 and a beta of 1.71. Freshpet has a fifty-two week low of $46.76 and a fifty-two week high of $164.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. The business has a fifty day moving average price of $62.83 and a two-hundred day moving average price of $59.57.

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

Insider Activity

In related news, President Scott James Morris sold 63,135 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $55.21, for a total transaction of $3,485,683.35. Following the transaction, the president directly owned 160,476 shares of the company’s stock, valued at $8,859,879.96. This represents a 28.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its stake in Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after buying an additional 296 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after acquiring an additional 197 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Freshpet by 445.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock worth $32,000 after acquiring an additional 432 shares during the period. TD Waterhouse Canada Inc. purchased a new position in Freshpet in the fourth quarter worth $32,000. Finally, EverSource Wealth Advisors LLC grew its stake in 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 purchasing an additional 472 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.