Freshpet (NASDAQ:FRPT) Upgraded at BidaskClub

BidaskClub upgraded shares of Freshpet (NASDAQ:FRPT) from a buy rating to a strong-buy rating in a research report released on Friday, BidAskClub reports.

A number of other equities analysts also recently issued reports on FRPT. William Blair reissued a buy rating on shares of Freshpet in a research report on Thursday, November 21st. Zacks Investment Research downgraded Freshpet from a buy rating to a hold rating in a research report on Wednesday, November 6th. ValuEngine downgraded Freshpet from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Credit Suisse Group increased their price target on Freshpet from $58.00 to $68.00 and gave the stock a neutral rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. increased their price target on Freshpet from $58.00 to $62.00 and gave the stock an overweight rating in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Freshpet currently has a consensus rating of Buy and a consensus target price of $59.50.

Shares of Freshpet stock opened at $66.08 on Friday. The stock’s fifty day moving average is $59.13 and its two-hundred day moving average is $50.88. The company has a market capitalization of $2.38 billion, a PE ratio of -508.27 and a beta of 1.08. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.36. Freshpet has a 52 week low of $34.16 and a 52 week high of $66.22.

Freshpet (NASDAQ:FRPT) last posted 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). Freshpet had a negative return on equity of 3.52% and a negative net margin of 1.84%. The firm had revenue of $65.27 million for the quarter, compared to the consensus estimate of $64.37 million. Freshpet’s revenue for the quarter was up 28.5% on a year-over-year basis. As a group, research analysts anticipate that Freshpet will post 0.01 earnings per share for the current year.

In related news, VP Stephen Macchiaverna sold 4,966 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.50, for a total transaction of $270,647.00. Following the sale, the vice president now owns 86,603 shares of the company’s stock, valued at $4,719,863.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard A. Kassar sold 998 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $55.54, for a total value of $55,428.92. Following the sale, the chief financial officer now directly owns 153,996 shares in the company, valued at approximately $8,552,937.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,139 shares of company stock worth $1,439,772. 4.90% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. FTB Advisors Inc. boosted its position in Freshpet by 85.1% during the third quarter. FTB Advisors Inc. now owns 522 shares of the company’s stock valued at $26,000 after purchasing an additional 240 shares in the last quarter. HM Payson & Co. bought a new stake in Freshpet during the second quarter valued at about $50,000. NumerixS Investment Technologies Inc boosted its position in 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 purchasing an additional 600 shares in the last quarter. Diversified Trust Co bought a new stake in Freshpet during the third quarter valued at about $244,000. Finally, Voloridge Investment Management LLC bought a new stake in Freshpet during the third quarter valued at about $266,000.

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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