Freshpet (NASDAQ:FRPT) Price Target Raised to $61.00

Freshpet (NASDAQ:FRPT) had its target price boosted by TD Cowen from $56.00 to $61.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential downside of 2.80% from the company’s current price.

Several other equities research analysts also recently weighed in on FRPT. Bank of America lifted their price target on shares of Freshpet from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. DA Davidson dropped their price target on Freshpet from $101.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Wells Fargo & Company boosted their price objective on Freshpet from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings upgraded Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Six analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.75.

Freshpet Trading Up 1.1%

NASDAQ FRPT traded up $0.69 during trading hours on Thursday, hitting $62.76. 214,905 shares of the company’s stock were exchanged, compared to its average volume of 685,021. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.52 and a beta of 1.71. The stock has a 50-day simple moving average of $58.98 and a 200 day simple moving average of $59.88. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36. Freshpet has a 1-year low of $46.76 and a 1-year high of $164.07.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $1.43. The firm had revenue of $288.85 million for the quarter, compared to analyst estimates of $283.73 million. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts forecast that Freshpet will post 1.55 EPS for the current fiscal year.

Insider Transactions at Freshpet

In other Freshpet news, President Scott James Morris sold 5,142 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the sale, the president directly owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. This represents a 14.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FRPT. State of Wyoming purchased a new stake in shares of Freshpet during the second quarter worth $34,000. EverSource Wealth Advisors LLC lifted its holdings in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Freshpet in the 2nd quarter worth about $35,000. Ossiam increased its position in shares of Freshpet by 81.1% during the second quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Freshpet by 445.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after acquiring an additional 432 shares during the period.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.