Freshpet (NASDAQ:FRPT) Given New $72.00 Price Target at JPMorgan Chase & Co.

Freshpet (NASDAQ:FRPT) had its target price increased by research analysts at JPMorgan Chase & Co. from $68.00 to $72.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.95% from the stock’s current price.

FRPT has been the subject of several other reports. Weiss Ratings lowered Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. 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. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, April 8th. Bank of America dropped their price objective on Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $63.00 target price on shares of Freshpet in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and an average target price of $74.50.

Freshpet Stock Performance

FRPT stock opened at $61.04 on Tuesday. Freshpet has a twelve month low of $46.45 and a twelve month high of $86.00. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.00 billion, a P/E ratio of 16.52 and a beta of 1.60. The business’s fifty day moving average is $53.94 and its 200-day moving average is $62.60.

Insider Buying and Selling at Freshpet

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

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently bought and sold shares of FRPT. Caitong International Asset Management Co. Ltd grew its holdings in 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 purchasing an additional 358 shares during the period. Motiv8 Investments LLC bought a new stake in Freshpet in the fourth quarter valued at approximately $28,000. Signaturefd LLC lifted its position in shares of Freshpet by 143.0% in 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 last quarter. Parallel Advisors LLC boosted its stake in shares of Freshpet by 55.0% during the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after acquiring an additional 197 shares during the period. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Freshpet during the 4th quarter worth approximately $32,000.

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.