Freshpet, Inc. (NASDAQ:FRPT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has received an average rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $142.87.

FRPT has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and issued a $150.00 target price on shares of Freshpet in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Oppenheimer boosted their price objective on Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Bank of America lifted their price target on shares of Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $142.19 on Monday. The business has a 50 day moving average price of $130.38 and a 200 day moving average price of $123.56. Freshpet has a twelve month low of $54.60 and a twelve month high of $144.38. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 789.94 and a beta of 1.39. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The company had revenue of $235.30 million during the quarter, compared to analyst estimates of $230.99 million. During the same period in the previous year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. Research analysts predict that Freshpet will post 0.72 earnings per share for the current year.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Freshpet by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after purchasing an additional 13,709 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Freshpet by 2.9% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,709,572 shares of the company’s stock valued at $148,322,000 after buying an additional 47,862 shares during the period. Franklin Resources Inc. increased its stake in shares of Freshpet by 7.5% in the 4th quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company’s stock valued at $146,602,000 after buying an additional 117,864 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Freshpet by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 923,507 shares of the company’s stock valued at $119,492,000 after acquiring an additional 22,759 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Freshpet by 24.4% in the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after acquiring an additional 141,615 shares during the last quarter.

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.