StockNews.com Downgrades Freshpet (NASDAQ:FRPT) to Sell

Freshpet (NASDAQ:FRPT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other brokerages have also weighed in on FRPT. Deutsche Bank Aktiengesellschaft upped their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Truist Financial increased their price objective on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised their price objective on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

Freshpet Stock Up 2.3 %

Shares of Freshpet stock opened at $156.57 on Wednesday. Freshpet has a 1 year low of $68.22 and a 1 year high of $159.12. The company has a market cap of $7.60 billion, a P/E ratio of 175.74 and a beta of 1.39. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $141.99 and a 200 day moving average price of $133.12.

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

Insider Transactions at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of the firm’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 value of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of FRPT. ORG Wealth Partners LLC acquired a new stake in Freshpet during the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new position in shares of Freshpet in the 2nd quarter worth $32,000. GAMMA Investing LLC boosted its stake in Freshpet by 41.1% during the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after acquiring an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Freshpet in the 2nd quarter worth about $52,000.

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.