Freshpet (NASDAQ:FRPT) Stock Rating Upgraded by TD Cowen

Freshpet (NASDAQ:FRPT) was upgraded by analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Finviz reports. The firm currently has a $80.00 price target on the stock. TD Cowen’s price target would suggest a potential upside of 26.90% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Stephens restated an “overweight” rating and issued a $90.00 target price on shares of Freshpet in a research note on Tuesday, February 24th. Stifel Nicolaus raised their target price on shares of Freshpet from $65.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Wells Fargo & Company raised their target price on shares of Freshpet from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. DA Davidson set a $98.00 target price on shares of Freshpet in a research note on Wednesday, February 25th. Finally, Bank of America raised their target price 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. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

Freshpet Stock Performance

Shares of FRPT stock opened at $63.04 on Wednesday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.97 and a beta of 1.78. The company’s 50 day moving average is $70.79 and its 200 day moving average is $62.57. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35. Freshpet has a 52-week low of $46.76 and a 52-week high of $89.80.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. The company had revenue of $285.23 million for the quarter, compared to analyst estimates of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. Freshpet’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. On average, sell-side analysts anticipate that Freshpet will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after buying an additional 358 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of Freshpet during the fourth quarter worth $28,000. Signaturefd LLC lifted its stake in shares of Freshpet by 143.0% during the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after buying an additional 296 shares during the period. Parallel Advisors LLC lifted its stake in shares of Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after buying an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Freshpet by 445.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock worth $32,000 after buying 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.