Brokerages Set Freshpet, Inc. (NASDAQ:FRPT) Price Target at $74.88

Freshpet, Inc. (NASDAQ:FRPT) has received an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $74.8750.

A number of equities analysts have commented on FRPT shares. Weiss Ratings downgraded Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Stephens restated an “overweight” rating and issued a $90.00 target price on shares of Freshpet in a research report on Tuesday, February 24th. Stifel Nicolaus set a $66.00 target price on shares of Freshpet in a research note on Thursday, May 7th. Benchmark boosted their price target on shares of Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $63.00 price target on shares of Freshpet in a report on Thursday, May 7th.

Freshpet Price Performance

FRPT stock opened at $49.74 on Wednesday. Freshpet has a 52-week low of $46.45 and a 52-week high of $86.00. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.30 and a beta of 1.63. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $57.86 and its 200-day simple moving average is $63.85.

Insider Activity at Freshpet

In other Freshpet news, CEO William B. Cyr sold 42,495 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $51.03, for a total value of $2,168,519.85. Following the transaction, the chief executive officer directly owned 224,459 shares of the company’s stock, valued at approximately $11,454,142.77. This trade represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig D. Steeneck acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $47.83 per share, for a total transaction of $95,660.00. Following the completion of the acquisition, the director owned 37,500 shares of the company’s stock, valued at $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Freshpet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Optimize Financial Inc lifted its holdings in shares of Freshpet by 1.4% during the 4th quarter. Optimize Financial Inc now owns 10,957 shares of the company’s stock worth $668,000 after acquiring an additional 156 shares during the period. Oregon Public Employees Retirement Fund increased its position in Freshpet by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock worth $680,000 after purchasing an additional 161 shares in the last quarter. Parallel Advisors LLC increased its position in Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after acquiring an additional 197 shares during the period. Smartleaf Asset Management LLC increased its position in Freshpet by 32.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 882 shares of the company’s stock valued at $53,000 after acquiring an additional 214 shares during the period. Finally, Ossiam boosted its stake in shares of Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares during the last quarter.

About Freshpet

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.