Freshpet (NASDAQ:FRPT) Shares Cross Above 50 Day Moving Average – What’s Next?

Freshpet, Inc. (NASDAQ:FRPT)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $65.35 and traded as high as $66.78. Freshpet shares last traded at $66.12, with a volume of 847,011 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FRPT. Wells Fargo & Company dropped their price objective on shares of Freshpet from $82.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. DA Davidson decreased their target price on Freshpet from $101.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $67.00 target price on Freshpet in a report on Wednesday, October 21st. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a research report on Monday, October 5th. Finally, Stifel Nicolaus increased their price target on Freshpet from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.53.

Freshpet Stock Up 2.1%

The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $65.22 and its 200 day moving average price is $63.83. The firm has a market cap of $3.32 billion, a P/E ratio of 17.76 and a beta of 1.78.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.17. The firm had revenue of $305.59 million for the quarter, compared to the consensus estimate of $292.35 million. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. Freshpet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. As a group, research analysts expect that Freshpet, Inc. will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, Director Walter N. George acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average cost of $64.92 per share, with a total value of $64,920.00. Following the acquisition, the director directly owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This represents a 1.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William B. Cyr sold 2,657 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $75.40, for a total value of $200,337.80. Following the completion of the transaction, the chief executive officer directly owned 49,044 shares of the company’s stock, valued at $3,697,917.60. This trade represents a 5.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 171,636 shares of company stock worth $12,754,864. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FRPT. Jupiter Topco LLC acquired a new position in Freshpet during the second quarter worth about $1,242,000. California State Teachers Retirement System lifted its holdings in Freshpet by 27.2% in the 1st quarter. California State Teachers Retirement System now owns 59,465 shares of the company’s stock valued at $3,506,000 after acquiring an additional 12,732 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Freshpet during the 2nd quarter valued at about $6,463,000. WINTON GROUP Ltd boosted its position in shares of Freshpet by 456.0% during the 2nd quarter. WINTON GROUP Ltd now owns 116,816 shares of the company’s stock valued at $6,906,000 after purchasing an additional 95,806 shares in the last quarter. Finally, Commerce Bank bought a new position in shares of Freshpet during the 2nd quarter valued at about $3,030,000.

Freshpet Company Profile

Freshpet, Inc (NASDAQ: FRPT) is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with animal proteins, vegetables and other ingredients and are designed to be stored in the refrigerator rather than on a conventional shelf.

The company sells its products under the Freshpet brand and related product lines, including Freshpet Select and Vital. Its offerings include refrigerated meals, rolls, recipes and treats formulated for different pet sizes, ages and dietary needs.