Freshpet (NASDAQ:FRPT) Price Target Raised to $174.00

by · The Cerbat Gem

Freshpet (NASDAQ:FRPT – Free Report) had its target price hoisted by TD Cowen from $160.00 to $174.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

FRPT has been the topic of a number of other reports. Wells Fargo & Company upped their price objective on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America lifted their price target on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and an average price target of $156.13.

View Our Latest Analysis on FRPT

Freshpet Stock Performance

NASDAQ FRPT opened at $153.22 on Tuesday. Freshpet has a 52-week low of $65.81 and a 52-week high of $157.10. The stock has a market cap of $7.43 billion, a PE ratio of 172.16 and a beta of 1.39. The firm has a 50-day moving average of $138.96 and a 200-day moving average of $129.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50.

Freshpet (NASDAQ:FRPT – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The firm had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. During the same period last year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Freshpet will post 0.73 EPS for the current year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FRPT. Vanguard Group Inc. increased its stake in shares of Freshpet by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock valued at $540,650,000 after buying an additional 13,709 shares during the period. WCM Investment Management LLC increased its position in Freshpet by 749.7% in the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock valued at $376,187,000 after acquiring an additional 2,445,199 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Freshpet by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 923,507 shares of the company’s stock valued at $119,492,000 after acquiring an additional 22,759 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Freshpet by 24.4% during the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after acquiring an additional 141,615 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Freshpet by 4.4% during the first quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock worth $28,852,000 after purchasing an additional 10,456 shares during the period.

About Freshpet

(Get Free Report)

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.

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