Freshpet, Inc. (NASDAQ:FRPT) Given Average Rating of “Moderate Buy” by Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $133.76.

A number of research firms recently issued reports on FRPT. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Freshpet in a research report on Thursday, May 23rd. They set a “buy” rating and a $150.00 price objective for the company. Robert W. Baird boosted their price target on shares of Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Redburn Atlantic upgraded Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a report on Thursday, May 23rd. Bank of America lifted their price objective on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, DA Davidson lifted their price target on shares of Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 6,548 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.15, for a total value of $786,742.20. Following the sale, the executive vice president now owns 86,039 shares in the company, valued at $10,337,585.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 13,560 shares of company stock worth $1,701,580 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Freshpet in the 4th quarter worth approximately $40,327,000. Jennison Associates LLC grew its holdings in 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 purchasing an additional 245,403 shares during the last quarter. Victory Capital Management Inc. raised its stake in Freshpet by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock valued at $30,002,000 after buying an additional 234,836 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Freshpet by 3,434.5% in 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. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Freshpet during the first quarter worth $17,845,000.

Freshpet Trading Down 1.2 %

FRPT opened at $122.10 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.97 and a debt-to-equity ratio of 0.43. Freshpet has a twelve month low of $54.60 and a twelve month high of $136.35. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 678.37 and a beta of 1.36. The company has a 50-day simple moving average of $126.77 and a 200 day simple moving average of $112.84.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.43. The company had revenue of $223.85 million during the quarter, compared to the consensus estimate of $216.43 million. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. Analysts predict that Freshpet will post 0.54 EPS for the current fiscal year.

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.