Analysts Set Freshpet, Inc. (NASDAQ:FRPT) PT at $105.93

Freshpet, Inc. (NASDAQ:FRPT) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $105.93.

FRPT has been the subject of several recent research reports. TheStreet raised shares of Freshpet from a “d+” rating to a “c-” rating in a research report on Thursday, December 21st. Jefferies Financial Group assumed coverage on Freshpet in a report on Tuesday, December 19th. They issued a “hold” rating and a $80.00 price target for the company. Wells Fargo & Company started coverage on Freshpet in a research note on Tuesday, December 12th. They set an “overweight” rating and a $90.00 price objective on the stock. Oppenheimer upped their target price on Freshpet from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Citigroup initiated coverage on Freshpet in a report on Thursday, February 1st. They set a “neutral” rating and a $94.00 target price on the stock.

Insider Activity at Freshpet

In other Freshpet news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,709,007.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Stephen Macchiaverna sold 7,130 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now directly owns 85,056 shares in the company, valued at $9,231,127.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,130 shares of company stock valued at $1,338,269. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Advisor Group Holdings Inc. increased its holdings in Freshpet by 63.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,983 shares of the company’s stock valued at $306,000 after buying an additional 1,154 shares during the period. HighTower Advisors LLC raised its position in Freshpet by 129.9% in the 1st quarter. HighTower Advisors LLC now owns 7,492 shares of the company’s stock worth $790,000 after purchasing an additional 4,233 shares during the last quarter. Citigroup Inc. raised its position in shares of Freshpet by 155.2% during the 1st quarter. Citigroup Inc. now owns 18,953 shares of the company’s stock valued at $1,944,000 after acquiring an additional 11,527 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Freshpet by 104.0% during the 1st quarter. Bank of Montreal Can now owns 20,798 shares of the company’s stock worth $2,203,000 after buying an additional 10,601 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Freshpet during the first quarter valued at $271,000.

Freshpet Price Performance

FRPT stock opened at $115.71 on Monday. The stock’s 50 day moving average price is $98.75 and its 200 day moving average price is $80.71. The firm has a market cap of $5.59 billion, a P/E ratio of -162.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 4.79. Freshpet has a 1 year low of $54.60 and a 1 year high of $116.96.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million for the quarter, compared to the consensus estimate of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, sell-side analysts expect that Freshpet will post 0.09 earnings per share for the current fiscal year.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.