Freshpet (NASDAQ:FRPT) Shares Climb 5.3% – What’s Next?

Freshpet, Inc. (NASDAQ:FRPT) traded up 5.3% during trading on Friday. The company traded as high as $67.57 and last traded at $68.0440. 433,971 shares traded hands during trading, a decline of 69% from the average session volume of 1,388,315 shares. The stock had previously closed at $64.63.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FRPT. Morgan Stanley downgraded shares of Freshpet from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $77.00 to $72.00 in a research note on Thursday, August 6th. Wall Street Zen raised Freshpet from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Deutsche Bank set a $67.00 target price on Freshpet in a research note on Wednesday, October 21st. TD Cowen lowered their target price on Freshpet from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Finally, DA Davidson dropped their price objective on Freshpet from $101.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.31.

Freshpet Trading Up 4.5%

The business’s 50 day moving average price is $64.09 and its 200-day moving average price is $63.77. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 26.79 and a beta of 1.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.65 and a current ratio of 5.68.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.19. The company had revenue of $317.84 million during the quarter, compared to analyst estimates of $312.02 million. Freshpet had a net margin of 10.90% and a return on equity of 6.39%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. On average, research analysts forecast that Freshpet, Inc. will post 1.38 EPS for the current year.

Insider Buying and Selling at Freshpet

In related 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 sale, the chief executive officer directly owned 49,044 shares in the company, valued at approximately $3,697,917.60. This trade represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Walter George acquired 1,000 shares of the company’s stock in a transaction on Monday, September 14th. The stock was acquired at an average price of $64.92 per share, for a total transaction of $64,920.00. Following the purchase, the director directly owned 51,746 shares of the company’s stock, valued at approximately $3,359,350.32. This trade represents a 1.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 171,636 shares of company stock worth $12,754,864 over the last ninety days. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently bought and sold shares of the business. Caxton Associates LLP raised its position in shares of Freshpet by 105.5% during the third quarter. Caxton Associates LLP now owns 9,077 shares of the company’s stock worth $522,000 after acquiring an additional 4,659 shares during the last quarter. Wealth Alliance LLC acquired a new position in shares of Freshpet in the third quarter worth approximately $204,000. AlphaGrep UK Ltd bought a new stake in Freshpet in the third quarter valued at approximately $255,000. First Trust Advisors LP boosted its holdings in Freshpet by 8.8% in the third quarter. First Trust Advisors LP now owns 210,203 shares of the company’s stock valued at $12,099,000 after acquiring an additional 16,996 shares during the last quarter. Finally, Landscape Capital Management L.L.C. boosted its holdings in Freshpet by 4.0% in the third quarter. Landscape Capital Management L.L.C. now owns 105,088 shares of the company’s stock valued at $6,049,000 after acquiring an additional 3,994 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc. makes and markets fresh, refrigerated food and treats for dogs and cats. Founded in 2006, the company focuses on recipes made with fresh ingredients and positioned as an alternative to shelf-stable pet food. Its products are sold under brands including Freshpet, Freshpet Select, Vital and Nature’s Fresh. Freshpet distributes them through refrigerated displays in grocery, mass-market, club and pet specialty stores, as well as through online retailers. The company primarily serves customers in the United States and Canada and also sells its products in select international markets.