Bank of America Increases Freshpet (NASDAQ:FRPT) Price Target to $150.00

Freshpet (NASDAQ:FRPT) had its price objective upped by equities researchers at Bank of America from $140.00 to $150.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 22.16% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Oppenheimer increased their target price on Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Wells Fargo & Company increased their target price on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $150.00 target price on shares of Freshpet in a report on Tuesday, July 2nd. Robert W. Baird increased their target price on Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, DA Davidson increased their target price on Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.71.

Freshpet Stock Down 5.1 %

Shares of NASDAQ FRPT traded down $6.64 during mid-day trading on Wednesday, hitting $122.79. The company had a trading volume of 424,317 shares, compared to its average volume of 600,559. The company has a market capitalization of $5.95 billion, a PE ratio of 684.70 and a beta of 1.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.97 and a quick ratio of 4.09. Freshpet has a 1-year low of $54.60 and a 1-year high of $136.35. The business’s 50-day simple moving average is $126.94 and its 200 day simple moving average is $108.69.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.43. The business had revenue of $223.85 million for the quarter, compared to analysts’ expectations of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. On average, analysts predict that Freshpet will post 0.54 earnings per share for the current year.

Insider Transactions at Freshpet

In other news, EVP Stephen Macchiaverna sold 1,012 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total transaction of $122,057.32. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at $10,377,163.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 13,560 shares of company stock worth $1,701,580. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in the business. Oak Thistle LLC acquired a new position in Freshpet during the 4th quarter worth approximately $1,200,000. Impax Asset Management Group plc acquired a new position in Freshpet during the 4th quarter worth approximately $4,338,000. Nicholas Investment Partners LP acquired a new position in Freshpet during the 4th quarter worth approximately $2,278,000. Trust Point Inc. acquired a new position in Freshpet during the 4th quarter worth approximately $963,000. Finally, Allspring Global Investments Holdings LLC increased its position in Freshpet by 53.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock worth $16,151,000 after purchasing an additional 48,401 shares during the period.

About Freshpet

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.