Freshpet (NASDAQ:FRPT) Stock Rating Upgraded by Zacks Research

Freshpet (NASDAQ:FRPT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

FRPT has been the topic of several other research reports. Truist Financial cut their price target on Freshpet from $70.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Jefferies Financial Group reissued a “hold” rating and issued a $56.00 target price on shares of Freshpet in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Freshpet in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their price target on Freshpet from $90.00 to $65.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, DA Davidson dropped their price target on shares of Freshpet from $101.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Freshpet presently has an average rating of “Hold” and an average target price of $84.43.

Freshpet Trading Up 0.7%

Shares of NASDAQ FRPT opened at $53.22 on Tuesday. Freshpet has a 1 year low of $46.76 and a 1 year high of $164.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. The firm has a 50-day moving average of $52.93 and a 200 day moving average of $64.54. The stock has a market cap of $2.60 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 0.71 and a beta of 1.76.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $1.43. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The business had revenue of $288.85 million for the quarter, compared to analysts’ expectations of $283.73 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts expect that Freshpet will post 1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 63,135 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $55.21, for a total transaction of $3,485,683.35. Following the transaction, the president owned 160,476 shares in the company, valued at approximately $8,859,879.96. This represents a 28.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy R. Mclevish purchased 3,500 shares of Freshpet stock in a transaction dated Wednesday, September 10th. The stock was bought at an average price of $56.00 per share, with a total value of $196,000.00. Following the completion of the purchase, the director directly owned 35,290 shares of the company’s stock, valued at approximately $1,976,240. This trade represents a 11.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 6,008 shares of company stock valued at $332,305. Company insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Freshpet by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company’s stock valued at $434,455,000 after buying an additional 571,139 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Freshpet by 41.0% in the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock worth $260,921,000 after acquiring an additional 1,116,217 shares during the period. Wellington Management Group LLP increased its position in Freshpet by 8.1% during the first quarter. Wellington Management Group LLP now owns 2,616,205 shares of the company’s stock valued at $217,590,000 after acquiring an additional 196,882 shares during the last quarter. Champlain Investment Partners LLC increased its position in Freshpet by 41.5% during the second quarter. Champlain Investment Partners LLC now owns 2,568,954 shares of the company’s stock valued at $174,586,000 after acquiring an additional 753,070 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Freshpet by 20.6% in the second quarter. William Blair Investment Management LLC now owns 1,527,068 shares of the company’s stock valued at $103,780,000 after acquiring an additional 260,868 shares during the period.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.