Freshpet (NASDAQ:FRPT) Given New $160.00 Price Target at Truist Financial

Freshpet (NASDAQ:FRPT) had its target price increased by Truist Financial from $135.00 to $160.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on FRPT. TD Cowen boosted their target price on shares of Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 target price on shares of Freshpet in a report on Tuesday, July 2nd. Bank of America increased their price target on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer lifted their price objective on Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Finally, Benchmark reissued a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target of $144.53.

Freshpet Trading Down 1.4 %

FRPT opened at $142.06 on Wednesday. The company’s 50 day moving average is $136.52 and its 200-day moving average is $126.86. The company has a market cap of $6.88 billion, a P/E ratio of 789.22 and a beta of 1.39. Freshpet has a 1-year low of $54.60 and a 1-year high of $145.68. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. Freshpet’s revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) EPS. Equities research analysts predict that Freshpet will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently bought and sold shares of FRPT. Sei Investments Co. raised its holdings in shares of Freshpet by 4.4% in the 1st quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock worth $28,852,000 after acquiring an additional 10,456 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Freshpet in the first quarter worth approximately $811,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Freshpet by 53.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock valued at $16,151,000 after purchasing an additional 48,401 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Freshpet during the second quarter valued at approximately $3,964,000. Finally, Duality Advisers LP purchased a new position in shares of Freshpet during the first quarter valued at approximately $854,000.

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.