Freshpet (NASDAQ:FRPT) PT Raised to $143.00 at TD Cowen

Freshpet (NASDAQ:FRPT) had its target price raised by research analysts at TD Cowen from $128.00 to $143.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 19.96% from the stock’s current price.

Several other equities analysts have also issued reports on FRPT. DA Davidson boosted their target price on shares of Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer lifted their target price on Freshpet from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday. Robert W. Baird lifted 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. Stifel Nicolaus raised their price target on shares of Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $135.00 in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.71.

Freshpet Price Performance

FRPT stock opened at $119.21 on Tuesday. Freshpet has a 1 year low of $54.60 and a 1 year high of $127.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 662.28 and a beta of 1.24. The company has a 50 day simple moving average of $110.85 and a 200 day simple moving average of $90.45.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. The business had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. Freshpet’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Research analysts anticipate that Freshpet will post 0.07 EPS for the current fiscal year.

Insider Activity at Freshpet

In other news, COO Scott James Morris sold 3,632 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.86, for a total transaction of $399,011.52. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,444,666.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the sale, the executive vice president now directly owns 85,056 shares in the company, valued at approximately $9,231,127.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Scott James Morris sold 3,632 shares of Freshpet stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $109.86, for a total transaction of $399,011.52. Following the completion of the transaction, the chief operating officer now owns 122,380 shares of the company’s stock, valued at $13,444,666.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,762 shares of company stock worth $1,737,280. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently made changes to their positions in FRPT. Oak Thistle LLC purchased a new position in Freshpet during the 4th quarter valued at about $1,200,000. Impax Asset Management Group plc purchased a new stake in Freshpet in the 4th quarter worth approximately $4,338,000. Allspring Global Investments Holdings LLC boosted its holdings in Freshpet by 89.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 90,997 shares of the company’s stock valued at $7,895,000 after purchasing an additional 42,973 shares during the period. Trust Point Inc. bought a new position in shares of Freshpet in the fourth quarter worth $963,000. Finally, Jennison Associates LLC raised its position in shares of Freshpet by 36.6% in the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after buying an additional 245,403 shares in the last quarter.

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.