Brokerages Set Freshpet, Inc. (NASDAQ:FRPT) Target Price at $74.88

Freshpet, Inc. (NASDAQ:FRPT) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $74.8750.

FRPT has been the topic of several recent research reports. DA Davidson increased their price target on Freshpet from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. upgraded Freshpet from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $66.00 to $68.00 in a report on Thursday, May 7th. Bank of America lowered their target price on Freshpet from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Jefferies Financial Group cut their target price on Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company reduced their price target on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday.

Freshpet Trading Down 6.5%

FRPT opened at $49.64 on Friday. The company has a fifty day moving average price of $67.29 and a two-hundred day moving average price of $64.51. Freshpet has a 1-year low of $46.76 and a 1-year high of $89.80. The company has a market cap of $2.44 billion, a P/E ratio of 13.27 and a beta of 1.73. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The company had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.66 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Analysts predict that Freshpet will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, Director Walter N. George acquired 2,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $54.67 per share, with a total value of $109,340.00. Following the completion of the purchase, the director owned 50,746 shares of the company’s stock, valued at approximately $2,774,283.82. This represents a 4.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On Freshpet

A number of institutional investors and hedge funds have recently made changes to their positions in FRPT. JANA Partners Management LP increased its holdings in Freshpet by 4.1% during the 3rd quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock worth $57,763,000 after purchasing an additional 41,373 shares in the last quarter. Western Standard LLC bought a new position in shares of Freshpet in the third quarter valued at approximately $3,527,000. ING Groep NV purchased a new position in shares of Freshpet during the third quarter valued at approximately $6,354,000. Deepwater Asset Management LLC boosted its position in shares of Freshpet by 14.3% during the third quarter. Deepwater Asset Management LLC now owns 190,301 shares of the company’s stock valued at $10,487,000 after buying an additional 23,768 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Freshpet by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 190,296 shares of the company’s stock worth $10,487,000 after buying an additional 24,045 shares in the last quarter.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.