Freshpet (NASDAQ:FRPT) Price Target Raised to $80.00 at JPMorgan Chase & Co.

Freshpet (NASDAQ:FRPTFree Report) had its price target lifted by JPMorgan Chase & Co. from $70.00 to $80.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on FRPT. TD Cowen set a $60.00 price target on Freshpet in a report on Tuesday. Robert W. Baird reduced their price objective on shares of Freshpet from $100.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Stephens reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Freshpet in a research report on Tuesday. Benchmark lifted their price target on shares of Freshpet from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley raised shares of Freshpet from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $71.00 to $90.00 in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.73.

Read Our Latest Analysis on Freshpet

Freshpet Price Performance

Freshpet stock opened at $80.89 on Tuesday. The company has a current ratio of 5.54, a quick ratio of 4.61 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $67.19 and a 200-day simple moving average of $59.75. The stock has a market cap of $3.95 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.88 and a beta of 1.72. Freshpet has a 12-month low of $46.76 and a 12-month high of $111.62.

Freshpet (NASDAQ:FRPTGet Free Report) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21. The company had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.Freshpet’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. Equities analysts expect that Freshpet will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $320,500.86. Following the completion of the sale, the president directly owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. This represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.43% of the company’s stock.

Institutional Trading of Freshpet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Motiv8 Investments LLC purchased a new position in shares of Freshpet in the 4th quarter valued at approximately $28,000. State of Wyoming purchased a new stake in shares of Freshpet during the second quarter worth approximately $34,000. Signaturefd LLC lifted its holdings in shares of Freshpet by 143.0% during the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares during the period. EverSource Wealth Advisors LLC grew its position 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 buying an additional 472 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Freshpet in the 2nd quarter valued at $35,000.

Key Freshpet News

Here are the key news stories impacting Freshpet this week:

Freshpet Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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