Brokerages Set Freshpet, Inc. (NASDAQ:FRPT) Price Target at $163.36

Freshpet, Inc. (NASDAQ:FRPT) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Two investment 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 analysts that have updated their coverage on the stock in the last year is $163.36.

Several research firms recently issued reports on FRPT. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price objective on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. DA Davidson increased their target price on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Freshpet Stock Down 0.4 %

Shares of NASDAQ:FRPT opened at $156.30 on Friday. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 175.62 and a beta of 1.41. Freshpet has a 12-month low of $84.02 and a 12-month high of $160.91. The business has a 50-day moving average price of $149.94 and a 200 day moving average price of $139.85. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter last year, the company posted ($0.15) EPS. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. Sell-side analysts expect that Freshpet will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now directly owns 122,380 shares of the company’s stock, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock valued at $1,962,175 over the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet in the 3rd quarter worth $29,000. Geneos Wealth Management Inc. raised its holdings in Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Freshpet in the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Freshpet by 3,670.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after purchasing an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Freshpet during the 2nd quarter worth approximately $52,000.

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.