Freshpet, Inc. (NASDAQ:FRPT) Receives $74.25 Consensus Price Target from Analysts

Freshpet, Inc. (NASDAQ:FRPT) has received an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $74.25.

A number of research analysts have issued reports on the company. DA Davidson upgraded Freshpet to a “strong-buy” rating in a research note on Monday, July 6th. Bank of America reduced their price objective on Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Wells Fargo & Company dropped their price objective on Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. TD Cowen raised Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. upgraded Freshpet from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $66.00 to $68.00 in a report on Thursday, May 7th.

Freshpet Stock Performance

Shares of Freshpet stock opened at $57.54 on Thursday. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.83 billion, a PE ratio of 15.39 and a beta of 1.60. The business has a 50 day moving average price of $53.72 and a 200-day moving average price of $62.60. Freshpet has a 52 week low of $46.45 and a 52 week high of $86.00.

Insiders Place Their Bets

In other news, Director Craig D. Steeneck acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $47.83 per share, for a total transaction of $95,660.00. Following the transaction, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William B. Cyr sold 42,495 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the sale, the chief executive officer directly owned 224,459 shares of the company’s stock, valued at approximately $11,454,142.77. This trade represents a 15.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders bought 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of Freshpet by 86.3% during the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after purchasing an additional 31,334 shares during the period. Jones Financial Companies Lllp boosted its holdings in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after buying an additional 1,593 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Freshpet in the 1st quarter worth $247,000. EverSource Wealth Advisors LLC boosted its stake in Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after buying an additional 472 shares during the period. Finally, Cresset Asset Management LLC lifted its position in shares of Freshpet by 140.3% during the second quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock worth $428,000 after purchasing an additional 3,676 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.