Freshpet (NASDAQ:FRPT) Sets New 12-Month High – Time to Buy?

Freshpet, Inc. (NASDAQ:FRPT)’s stock price reached a new 52-week high on Monday . The company traded as high as $160.91 and last traded at $158.05, with a volume of 120431 shares changing hands. The stock had previously closed at $156.76.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Benchmark restated a “buy” rating and set a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. DA Davidson upped their price target on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer upped their target price on Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.80.

Freshpet Price Performance

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 business’s 50-day moving average is $143.27 and its two-hundred day moving average is $134.22. The company has a market capitalization of $7.55 billion, a P/E ratio of 175.19 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last announced its earnings results 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. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) EPS. As a group, analysts predict that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Insider Activity

In other news, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet 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 completion of the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in shares of Freshpet in the third quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Freshpet during the third quarter worth $32,000. ORG Partners LLC bought a new position in shares of Freshpet in the second quarter worth $32,000. GAMMA Investing LLC grew its position in shares of 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares in the last quarter.

About Freshpet

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.