JPMorgan Chase & Co. Boosts Freshpet (NASDAQ:FRPT) Price Target to $154.00

Freshpet (NASDAQ:FRPT) had its target price boosted by JPMorgan Chase & Co. from $126.00 to $154.00 in a research report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on FRPT. TD Cowen lifted their price objective on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their price objective on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday. Truist Financial lifted their price target on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America lifted their price target on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Benchmark restated a “buy” rating and issued a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Freshpet has an average rating of “Moderate Buy” and an average price target of $156.13.

Freshpet Stock Up 2.1 %

Freshpet stock opened at $156.45 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.69. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 175.79 and a beta of 1.39. Freshpet has a 1-year low of $65.85 and a 1-year high of $159.12. The business has a fifty day moving average price of $139.37 and a 200-day moving average price of $130.33.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The company had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The firm’s revenue was up 26.3% compared to the same quarter last year. Equities research analysts forecast that Freshpet will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

A number of large investors have recently modified their holdings of FRPT. WCM Investment Management LLC increased its position in shares of Freshpet by 749.7% in the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock valued at $376,187,000 after purchasing an additional 2,445,199 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Freshpet in the 1st quarter valued at $17,845,000. Driehaus Capital Management LLC grew its position in shares of Freshpet by 24.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after buying an additional 141,615 shares during the last quarter. M&G Plc purchased a new position in shares of Freshpet in the 2nd quarter valued at $8,892,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Freshpet in the 2nd quarter valued at $8,902,000.

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.