Freshpet (NASDAQ:FRPT) Price Target Increased to $62.00 by Analysts at JPMorgan Chase & Co.

Freshpet (NASDAQ:FRPT) had its price objective upped by JPMorgan Chase & Co. from $58.00 to $62.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on FRPT. BidaskClub upgraded shares of Freshpet from a hold rating to a buy rating in a research report on Saturday, October 26th. ValuEngine cut shares of Freshpet from a buy rating to a hold rating in a research note on Tuesday, December 3rd. SunTrust Banks cut their price target on shares of 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. William Blair reiterated a buy rating on shares of Freshpet in a report on Thursday, November 21st. Finally, Stifel Nicolaus set a $57.00 price objective on shares of Freshpet and gave the stock a buy rating in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Freshpet currently has an average rating of Buy and an average target price of $53.88.

NASDAQ FRPT opened at $56.71 on Wednesday. The company has a market cap of $2.05 billion, a P/E ratio of -378.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.36. The business’s 50 day moving average price is $53.02 and its 200-day moving average price is $48.03. Freshpet has a fifty-two week low of $28.44 and a fifty-two week high of $58.11.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $65.27 million during the quarter, compared to the consensus estimate of $64.37 million. Freshpet had a negative return on equity of 3.52% and a negative net margin of 1.84%. The business’s revenue was up 28.5% compared to the same quarter last year. As a group, equities analysts predict that Freshpet will post 0.02 EPS for the current year.

In other news, CFO Richard A. Kassar sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the chief financial officer now directly owns 148,996 shares of the company’s stock, valued at $8,194,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 4,966 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.50, for a total transaction of $270,647.00. Following the sale, the vice president now directly owns 86,603 shares of the company’s stock, valued at $4,719,863.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,964 shares of company stock worth $1,371,916. Insiders own 4.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. FTB Advisors Inc. boosted its position in Freshpet by 85.1% in the 3rd quarter. FTB Advisors Inc. now owns 522 shares of the company’s stock valued at $26,000 after buying an additional 240 shares during the period. HM Payson & Co. purchased a new position in shares of Freshpet during the second quarter worth approximately $50,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Freshpet during the second quarter worth approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Freshpet by 21.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after acquiring an additional 363 shares in the last quarter. Finally, NumerixS Investment Technologies Inc raised its stake in shares of Freshpet by 21.4% during the second quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock valued at $155,000 after acquiring an additional 600 shares in the last quarter.

Freshpet Company Profile

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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