Oppenheimer Raises Freshpet (NASDAQ:FRPT) Price Target to $155.00

Freshpet (NASDAQ:FRPT) had its price target upped by Oppenheimer from $135.00 to $155.00 in a report released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen upped their target price on shares of Freshpet from $128.00 to $143.00 and gave the company a buy rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Freshpet in a research note on Thursday, May 23rd. They issued a buy rating and a $150.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Freshpet from $67.00 to $102.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. Benchmark boosted their price objective on shares of Freshpet from $125.00 to $150.00 and gave the company a buy rating in a research note on Tuesday, June 11th. Finally, Wells Fargo & Company raised their target price on shares of Freshpet from $124.00 to $140.00 and gave the stock an overweight rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Freshpet presently has an average rating of Moderate Buy and a consensus target price of $129.00.

Freshpet Stock Up 0.1 %

Freshpet stock opened at $129.39 on Tuesday. The company has a market capitalization of $6.27 billion, a P/E ratio of 718.87 and a beta of 1.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.09 and a current ratio of 4.97. Freshpet has a fifty-two week low of $54.60 and a fifty-two week high of $132.84. The stock has a 50-day simple moving average of $123.24 and a 200-day simple moving average of $105.95.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.43. The business had revenue of $223.85 million during the quarter, compared to the consensus estimate of $216.43 million. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. Equities research analysts expect that Freshpet will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 6,548 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.15, for a total transaction of $786,742.20. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $10,337,585.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 13,560 shares of company stock worth $1,701,580 in the last quarter. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JANA Partners Management LP purchased a new position in shares of Freshpet during the 3rd quarter worth approximately $214,405,000. Norges Bank purchased a new position in Freshpet during the fourth quarter worth $40,327,000. Jennison Associates LLC raised its holdings in shares of Freshpet by 36.6% in the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock worth $79,457,000 after acquiring an additional 245,403 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Freshpet by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock valued at $30,002,000 after acquiring an additional 234,836 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Freshpet by 3,434.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after purchasing an additional 219,913 shares in the last quarter.

Freshpet Company Profile

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.