Freshpet, Inc. (NASDAQ:FRPT) Receives Average Rating of “Moderate Buy” from Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $107.36.

A number of research analysts have weighed in on FRPT shares. Stifel Nicolaus boosted their target price on shares of Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. StockNews.com raised Freshpet to a “sell” rating in a research report on Saturday, December 30th. Piper Sandler raised their target price on Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and upped their price target for the stock from $120.00 to $135.00 in a report on Monday, March 11th. Finally, DA Davidson raised their price objective on shares of Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th.

Freshpet Stock Performance

FRPT opened at $103.84 on Friday. 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 $5.01 billion, a PE ratio of -146.25 and a beta of 1.23. The stock has a 50-day moving average of $106.09 and a 200-day moving average of $85.28. Freshpet has a 52-week low of $54.60 and a 52-week high of $117.76.

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

Insider Activity

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

Institutional Trading of Freshpet

Several large investors have recently added to or reduced their stakes in the company. Impax Asset Management Group plc acquired a new position in shares of Freshpet in the 4th quarter worth approximately $4,338,000. Oak Thistle LLC bought a new stake in shares of Freshpet during the fourth quarter worth $1,200,000. Trust Point Inc. bought a new stake in shares of Freshpet during the fourth quarter worth $963,000. William Blair Investment Management LLC raised its holdings in shares of Freshpet by 4.2% in the third quarter. William Blair Investment Management LLC now owns 2,740,708 shares of the company’s stock valued at $180,558,000 after buying an additional 110,383 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in shares of Freshpet in the third quarter valued at about $5,621,000.

About Freshpet

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.