Freshpet (NASDAQ:FRPT) Price Target Increased to $150.00 by Analysts at Bank of America

Freshpet (NASDAQ:FRPT) had its target price upped by Bank of America from $140.00 to $150.00 in a report issued on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also issued reports on FRPT. StockNews.com raised shares of Freshpet to a sell rating in a report on Saturday, May 4th. TD Cowen upped their price objective on shares of Freshpet from $128.00 to $143.00 and gave the company a buy rating in a report on Tuesday, May 7th. Robert W. Baird upped their price objective on shares of Freshpet from $125.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, May 7th. Piper Sandler reaffirmed an overweight rating and issued a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. Finally, Benchmark upped their target price on shares of Freshpet from $125.00 to $150.00 and gave the company a buy rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $131.71.

Freshpet Price Performance

Freshpet stock opened at $121.94 on Wednesday. Freshpet has a 52-week low of $54.60 and a 52-week high of $136.35. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 677.48 and a beta of 1.36. The company has a fifty day simple moving average of $127.27 and a 200-day simple moving average of $108.95. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The business had revenue of $223.85 million during the quarter, compared to analyst estimates of $216.43 million. On average, equities analysts anticipate that Freshpet will post 0.54 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 1,012 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total value of $122,057.32. Following the transaction, the executive vice president now directly 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 accessible through the SEC website. Insiders have sold 13,560 shares of company stock worth $1,701,580 over the last three months. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after acquiring an additional 108 shares during the last quarter. CWM LLC grew its holdings in Freshpet by 65.9% in the second quarter. CWM LLC now owns 496 shares of the company’s stock valued at $64,000 after purchasing an additional 197 shares during the last quarter. Diversified Trust Co raised its position in Freshpet by 1.4% during the first quarter. Diversified Trust Co now owns 21,171 shares of the company’s stock worth $2,453,000 after acquiring an additional 287 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Freshpet in the first quarter valued at approximately $36,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Freshpet during the 4th quarter worth approximately $29,000.

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.