Freshpet (FRPT) Given New $32.00 Price Target at Credit Suisse Group

Freshpet (NASDAQ:FRPT) had its target price hoisted by stock analysts at Credit Suisse Group from $26.00 to $32.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “hold” rating on the stock. Credit Suisse Group’s price objective suggests a potential downside of 6.30% from the company’s previous close.

A number of other brokerages have also issued reports on FRPT. Zacks Investment Research raised Freshpet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. BidaskClub lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Robert W. Baird lifted their price target on Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. ValuEngine raised Freshpet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Susquehanna Bancshares set a $17.00 price target on Freshpet and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Five analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Freshpet presently has an average rating of “Buy” and an average target price of $27.14.

Shares of NASDAQ:FRPT opened at $34.15 on Monday. The company has a market capitalization of $1.18 billion, a PE ratio of -284.58 and a beta of 1.69. Freshpet has a 1 year low of $14.10 and a 1 year high of $34.53.



Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The firm had revenue of $47.60 million during the quarter, compared to analyst estimates of $46.08 million. Freshpet had a negative return on equity of 5.05% and a negative net margin of 3.33%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. research analysts predict that Freshpet will post -0.05 EPS for the current fiscal year.

In other Freshpet news, insider Scott James Morris sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $22.00, for a total transaction of $55,000.00. Following the transaction, the insider now owns 195,298 shares of the company’s stock, valued at $4,296,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen Macchiaverna sold 5,000 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $33.00, for a total value of $165,000.00. Following the transaction, the vice president now directly owns 77,938 shares in the company, valued at approximately $2,571,954. The disclosure for this sale can be found here. Insiders have sold 72,978 shares of company stock worth $2,155,202 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Public Employees Retirement Association of Colorado lifted its stake in shares of Freshpet by 25.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 500,000 shares of the company’s stock valued at $8,225,000 after purchasing an additional 100,000 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Freshpet in the 2nd quarter valued at $8,110,000. Deutsche Bank AG lifted its stake in shares of Freshpet by 98.0% in the 4th quarter. Deutsche Bank AG now owns 60,247 shares of the company’s stock valued at $1,140,000 after purchasing an additional 29,824 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Freshpet by 14.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 127,351 shares of the company’s stock valued at $2,095,000 after purchasing an additional 16,490 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Freshpet in the 1st quarter valued at $1,868,000. 75.73% of the stock is currently owned by institutional investors.

About Freshpet

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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