Shares of Freshpet Inc (NASDAQ:FRPT) rose 5.1% on Wednesday . The company traded as high as $43.83 and last traded at $43.67, approximately 515,973 shares were traded during mid-day trading. An increase of 57% from the average daily volume of 328,921 shares. The stock had previously closed at $41.55.
FRPT has been the topic of a number of recent research reports. SunTrust Banks lowered their target price on Freshpet to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. They noted that the move was a valuation call. BidaskClub raised Freshpet from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Zacks Investment Research downgraded Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. initiated coverage on Freshpet in a report on Tuesday, July 30th. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, ValuEngine downgraded Freshpet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Freshpet currently has an average rating of “Hold” and an average price target of $46.17.
The business has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $43.34. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.59 billion, a P/E ratio of -294.00 and a beta of 1.11.
In other news, VP Stephen Macchiaverna sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $47.05, for a total value of $470,500.00. Following the transaction, the vice president now owns 82,938 shares of the company’s stock, valued at $3,902,232.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Weise sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $47.50, for a total value of $237,500.00. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $237,500. The disclosure for this sale can be found here. Insiders sold 174,104 shares of company stock worth $8,335,030 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. purchased a new position in Freshpet during the 2nd quarter valued at approximately $50,000. Redhawk Wealth Advisors Inc. purchased a new position in Freshpet during the 2nd quarter valued at approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Freshpet by 21.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after buying an additional 363 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in Freshpet during the 1st quarter valued at approximately $120,000. Finally, SG Americas Securities LLC purchased a new position in Freshpet during the 1st quarter valued at approximately $140,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Freshpet Company Profile (NASDAQ:FRPT)
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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