Freshpet (NASDAQ:FRPT) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Freshpet (NASDAQ:FRPT) from a sell rating to a hold rating in a research note released on Sunday.

FRPT has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $63.00 price target on shares of Freshpet in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on Freshpet from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. TD Cowen upgraded Freshpet from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, April 8th. Stifel Nicolaus set a $66.00 target price on Freshpet in a research report on Thursday, May 7th. Finally, Wells Fargo & Company lowered their target price on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.50.

Freshpet Stock Performance

Shares of NASDAQ:FRPT opened at $59.54 on Friday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.92 and a beta of 1.61. Freshpet has a 12 month low of $46.45 and a 12 month high of $86.00. The firm’s 50-day moving average is $54.84 and its 200 day moving average is $62.54. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

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

Institutional Trading of Freshpet

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in Freshpet by 86.3% during the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after buying an additional 31,334 shares during the period. Jones Financial Companies Lllp lifted its holdings in Freshpet by 734.1% during the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after buying an additional 1,593 shares during the period. United Services Automobile Association purchased a new stake in Freshpet during the first quarter worth $247,000. EverSource Wealth Advisors LLC boosted its position in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 472 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in Freshpet by 140.3% during the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after acquiring an additional 3,676 shares in 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.