Freshpet, Inc. (NASDAQ:FRPT) Stock Has Average Price Target of $75.53

Freshpet, Inc. (NASDAQ:FRPT) has earned a consensus rating of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $75.53.

FRPT has been the subject of a number of research reports. Weiss Ratings raised Freshpet from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Wells Fargo & Company lowered their price target on Freshpet from $82.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. JPMorgan Chase & Co. dropped their price objective on Freshpet from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, TD Cowen decreased their target price on Freshpet from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th.

Insider Transactions at Freshpet

In other Freshpet news, CEO William Cyr sold 2,657 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $75.40, for a total value of $200,337.80. Following the completion of the transaction, the chief executive officer directly owned 49,044 shares in the company, valued at $3,697,917.60. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Walter George bought 1,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $64.92 per share, for a total transaction of $64,920.00. Following the completion of the transaction, the director owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This represents a 1.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 171,636 shares of company stock valued at $12,754,864 over the last ninety days. 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. Global Retirement Partners LLC purchased a new position in Freshpet during the second quarter valued at approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in Freshpet in the 3rd quarter worth approximately $30,000. Integrated Wealth Concepts LLC purchased a new stake in Freshpet in the 2nd quarter worth approximately $34,000. Legacies Wealth LLC purchased a new stake in Freshpet in the 3rd quarter worth approximately $35,000. Finally, State of Wyoming acquired a new stake in shares of Freshpet during the 2nd quarter valued at $61,000.

Freshpet Trading Up 3.1%

Shares of NASDAQ:FRPT opened at $69.62 on Friday. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $65.13 and its 200 day moving average price is $63.86. The company has a market cap of $3.42 billion, a PE ratio of 18.32 and a beta of 1.78. Freshpet has a fifty-two week low of $46.45 and a fifty-two week high of $86.00.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.22 by $0.17. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. The firm had revenue of $305.59 million during the quarter, compared to analysts’ expectations of $292.35 million. During the same quarter in the prior year, the firm earned $0.33 EPS. Freshpet’s quarterly revenue was up 15.4% on a year-over-year basis. Sell-side analysts anticipate that Freshpet will post 1.25 earnings per share for the current year.

About Freshpet

Freshpet, Inc (NASDAQ: FRPT) is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with animal proteins, vegetables and other ingredients and are designed to be stored in the refrigerator rather than on a conventional shelf.

The company sells its products under the Freshpet brand and related product lines, including Freshpet Select and Vital. Its offerings include refrigerated meals, rolls, recipes and treats formulated for different pet sizes, ages and dietary needs.