Freshpet (NASDAQ:FRPT) Sets New 52-Week High – What’s Next?

Freshpet, Inc. (NASDAQ:FRPT)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $160.91 and last traded at $158.05, with a volume of 120431 shares changing hands. The stock had previously closed at $156.76.

Analysts Set New Price Targets

A number of analysts have commented on FRPT shares. Truist Financial lifted their target price on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, TD Cowen boosted their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.80.

Freshpet Trading Down 0.3 %

The business has a 50 day moving average of $143.27 and a two-hundred day moving average of $134.22. The firm has a market cap of $7.55 billion, a P/E ratio of 175.19 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.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. Analysts predict that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the business’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 owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Freshpet by 41.1% in 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. GLOBALT Investments LLC GA grew its stake in shares of Freshpet by 3.2% in the third quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock worth $490,000 after purchasing an additional 111 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Freshpet by 23.0% in the third quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock valued at $101,000 after purchasing an additional 138 shares during the period. Parkside Financial Bank & Trust raised its position in Freshpet by 13.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock worth $169,000 after purchasing an additional 159 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Freshpet by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock worth $355,000 after buying an additional 171 shares during the period.

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.