DA Davidson Boosts Freshpet (NASDAQ:FRPT) Price Target to $153.00

Freshpet (NASDAQ:FRPT) had its target price lifted by equities research analysts at DA Davidson from $138.00 to $153.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 28.34% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Oppenheimer upped their target price on shares of Freshpet from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler raised their price objective on Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Citigroup initiated coverage on Freshpet in a research note on Thursday, February 1st. They set a “neutral” rating and a $94.00 target price for the company. Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and raised their price target for the company from $120.00 to $135.00 in a report on Monday, March 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.71.

Freshpet Price Performance

NASDAQ:FRPT opened at $119.21 on Tuesday. The stock’s 50-day simple moving average is $110.85 and its 200 day simple moving average is $90.45. Freshpet has a 52-week low of $54.60 and a 52-week high of $127.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 4.79. The company has a market cap of $5.77 billion, a P/E ratio of 662.28 and a beta of 1.24.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the business earned ($0.06) earnings per share. As a group, sell-side analysts forecast that Freshpet will post 0.07 EPS for the current fiscal year.

Insider Activity at Freshpet

In other news, EVP Stephen Macchiaverna sold 7,130 shares of Freshpet stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Scott James Morris sold 2,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $113.76, for a total value of $284,400.00. Following the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at approximately $13,921,948.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock valued at $1,737,280 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Large investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC bought a new position in shares of Freshpet in the third quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new position in Freshpet during the fourth quarter worth about $29,000. GAMMA Investing LLC grew its holdings in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after acquiring an additional 132 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Freshpet during the 1st quarter valued at $36,000. Finally, Quarry LP bought a new position in Freshpet during the fourth quarter valued at about $40,000.

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.