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

Freshpet, Inc. (NASDAQ:FRPT) has earned an average rating of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $76.4667.

A number of equities analysts have recently commented on FRPT shares. Wells Fargo & Company raised their price target on Freshpet from $82.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft lowered Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Monday, December 15th. JPMorgan Chase & Co. increased their price objective on Freshpet from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Benchmark lifted their target price on Freshpet from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Stephens reiterated an “overweight” rating and set a $90.00 price target on shares of Freshpet in a research report on Tuesday, February 24th.

Freshpet Stock Performance

NASDAQ FRPT opened at $63.17 on Friday. The company’s 50 day moving average is $72.66 and its 200-day moving average is $61.91. Freshpet has a 12-month low of $46.76 and a 12-month high of $89.80. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.10 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.11 and a beta of 1.66.

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

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in 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 purchasing an additional 31,334 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Freshpet by 734.1% in the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after purchasing an additional 1,593 shares during the period. United Services Automobile Association bought a new position in shares of Freshpet in the first quarter worth $247,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of Freshpet by 5.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 17,867 shares of the company’s stock worth $1,214,000 after buying an additional 958 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Freshpet by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,523 shares of the company’s stock worth $851,000 after buying an additional 908 shares in the last quarter.

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.