Freshpet (NASDAQ:FRPT) Raised to “Strong-Buy” at DA Davidson

Freshpet (NASDAQ:FRPT) was upgraded by equities research analysts at DA Davidson to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company lowered their price target on Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $77.00 price objective on shares of Freshpet in a report on Thursday, May 7th. Stifel Nicolaus set a $66.00 target price on Freshpet in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised Freshpet from a “neutral” rating to an “overweight” rating and upped their target price for the company from $66.00 to $68.00 in a report on Thursday, May 7th. Finally, Weiss Ratings cut Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and an average target price of $74.56.

Freshpet Price Performance

Freshpet stock traded up $1.31 during mid-day trading on Monday, reaching $55.40. The company had a trading volume of 73,641 shares, compared to its average volume of 1,541,351. The stock’s 50-day simple moving average is $54.07 and its 200-day simple moving average is $63.27. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The company has a market capitalization of $2.72 billion, a P/E ratio of 14.83 and a beta of 1.60.

Insider Buying and Selling at Freshpet

In related news, CEO William B. Cyr sold 42,907 shares of Freshpet stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the completion of the transaction, the chief executive officer directly owned 204,585 shares in the company, valued at $9,803,713.20. The trade was a 17.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Caitong International Asset Management Co. Ltd raised its stake in Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Freshpet during the fourth quarter worth about $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 valued at $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 valued at $31,000 after buying an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in 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 acquiring an additional 432 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.