Freshpet, Inc. (NASDAQ:FRPT) Receives $105.93 Consensus Target Price from Analysts

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $105.93.

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. StockNews.com raised Freshpet to a “sell” rating in a report on Saturday, December 30th. DA Davidson boosted their price target on Freshpet from $104.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Citigroup started coverage on Freshpet in a research report on Thursday, February 1st. They issued a “neutral” rating and a $94.00 price objective on the stock. Finally, Oppenheimer lifted their target price on shares of Freshpet from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 16th.

Insider Activity

In other Freshpet news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $113.76, for a total transaction of $284,400.00. Following the completion of the transaction, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,921,948.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $113.76, for a total value of $284,400.00. Following the sale, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,921,948.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Macchiaverna sold 7,130 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the sale, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,130 shares of company stock valued at $1,338,269. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Freshpet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Freshpet by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,652,698 shares of the company’s stock valued at $403,668,000 after acquiring an additional 32,178 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Freshpet by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 216,155 shares of the company’s stock worth $18,754,000 after purchasing an additional 4,385 shares during the period. Sierra Summit Advisors LLC acquired a new position in shares of Freshpet in the 4th quarter valued at about $287,000. Quarry LP purchased a new stake in shares of Freshpet during the 4th quarter worth about $40,000. Finally, GSA Capital Partners LLP increased its position in Freshpet by 308.1% during the 4th quarter. GSA Capital Partners LLP now owns 39,780 shares of the company’s stock worth $3,451,000 after purchasing an additional 30,033 shares in the last quarter.

Freshpet Price Performance

NASDAQ FRPT opened at $115.71 on Monday. The firm’s fifty day simple moving average is $98.75 and its two-hundred day simple moving average is $80.71. The firm has a market capitalization of $5.59 billion, a P/E ratio of -162.97 and a beta of 1.23. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. Freshpet has a 12-month low of $54.60 and a 12-month high of $116.96.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.22. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The firm had revenue of $215.40 million for the quarter, compared to the consensus estimate of $204.93 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. Analysts forecast that Freshpet will post 0.09 EPS for the current fiscal year.

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.