TD Cowen Issues Positive Forecast for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPTFree Report) had its price target raised by TD Cowen from $61.00 to $80.00 in a research note published on Tuesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

FRPT has been the topic of a number of other research reports. Benchmark increased their price objective on shares of Freshpet from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Freshpet from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their target price on Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Stephens restated an “overweight” rating and set a $90.00 target price on shares of Freshpet in a research report on Tuesday. Finally, Robert W. Baird dropped their price objective on Freshpet from $100.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Freshpet has a consensus rating of “Hold” and a consensus price target of $74.73.

Read Our Latest Analysis on Freshpet

Freshpet Stock Up 2.9%

FRPT opened at $80.89 on Tuesday. Freshpet has a twelve month low of $46.76 and a twelve month high of $111.62. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.88 and a beta of 1.72. The firm’s 50-day simple moving average is $67.19 and its 200-day simple moving average is $59.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.61 and a current ratio of 5.54.

Freshpet (NASDAQ:FRPTGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that Freshpet will post 1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,142 shares of Freshpet stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $62.33, for a total value of $320,500.86. Following the transaction, the president owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Institutional investors have recently added to or reduced their stakes in the stock. Motiv8 Investments LLC acquired a new position in Freshpet in the 4th quarter worth $28,000. State of Wyoming bought a new stake in shares of Freshpet in the second quarter valued at about $34,000. Signaturefd LLC boosted its position 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 buying an additional 296 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after buying an additional 472 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Freshpet in the 2nd quarter valued at approximately $35,000.

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Freshpet Company Profile

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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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