Freshpet (FRPT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Freshpet (NASDAQ:FRPT) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $38.00 price target on the stock.

According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “

A number of other analysts also recently commented on the company. BidaskClub downgraded Freshpet from a buy rating to a hold rating in a research note on Tuesday, January 1st. Imperial Capital boosted their price objective on Freshpet from $18.00 to $35.00 and gave the stock an in-line rating in a research note on Tuesday, November 6th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $30.43.



Shares of FRPT traded down $0.79 during midday trading on Monday, reaching $34.41. The stock had a trading volume of 3,394 shares, compared to its average volume of 217,128. Freshpet has a 52 week low of $15.67 and a 52 week high of $40.58. The company has a market capitalization of $1.28 billion, a PE ratio of -285.33 and a beta of 1.32.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Hawaiian Bank acquired a new position in shares of Freshpet in the 4th quarter worth $216,000. Vanguard Group Inc grew its holdings in shares of Freshpet by 5.0% in the 3rd quarter. Vanguard Group Inc now owns 1,452,872 shares of the company’s stock worth $53,320,000 after acquiring an additional 69,768 shares during the last quarter. Federated Investors Inc. PA acquired a new position in shares of Freshpet in the 3rd quarter worth $4,831,000. Marshall Wace North America L.P. grew its holdings in shares of Freshpet by 163.6% in the 3rd quarter. Marshall Wace North America L.P. now owns 23,608 shares of the company’s stock worth $866,000 after acquiring an additional 14,652 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Freshpet by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,452,872 shares of the company’s stock worth $53,320,000 after acquiring an additional 69,768 shares during the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.

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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