StockNews.com Downgrades Freshpet (NASDAQ:FRPT) to Sell

Freshpet (NASDAQ:FRPT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

A number of other research firms have also weighed in on FRPT. DA Davidson upped their price objective on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen upped their price objective on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Oppenheimer increased their target price on Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, Truist Financial increased their target price on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and a consensus price target of $157.80.

Freshpet Stock Up 3.9 %

NASDAQ:FRPT opened at $156.38 on Wednesday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average is $141.68 and its two-hundred day moving average is $132.98. Freshpet has a 52 week low of $68.22 and a 52 week high of $159.12. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 175.71 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The company’s revenue was up 26.3% on a year-over-year basis. Research analysts anticipate that Freshpet will post 0.87 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the period. GLOBALT Investments LLC GA lifted its position in shares of Freshpet by 3.2% during the 3rd quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock valued at $490,000 after acquiring an additional 111 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Freshpet by 23.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock valued at $101,000 after acquiring an additional 138 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Freshpet by 13.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock worth $169,000 after purchasing an additional 159 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Freshpet by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock worth $355,000 after purchasing an additional 171 shares in the last quarter.

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.