Freshpet, Inc. (NASDAQ:FRPT) Given Average Rating of “Hold” by Analysts
Shares of Freshpet, Inc. (NASDAQ:FRPT) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.07.
Several research firms have recently weighed in on FRPT. Imperial Capital assumed coverage on shares of Freshpet in a report on Thursday, July 20th. They issued an “in-line” rating and a $16.50 price target on the stock. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price (up previously from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Credit Suisse Group increased their target price on Freshpet from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. Zacks Investment Research raised Freshpet from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, July 24th. Finally, BidaskClub cut Freshpet from a “buy” rating to a “hold” rating in a research note on Friday.
Freshpet (NASDAQ:FRPT) opened at 16.05 on Monday. Freshpet has a 12-month low of $7.60 and a 12-month high of $18.25. The firm’s market capitalization is $510.39 million. The company’s 50-day moving average price is $16.45 and its 200-day moving average price is $13.13.
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In other news, insider Scott James Morris sold 5,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $16.73, for a total transaction of $83,650.00. Following the completion of the sale, the insider now directly owns 207,307 shares in the company, valued at $3,468,246.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Kassar sold 15,125 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $15.26, for a total transaction of $230,807.50. Following the completion of the sale, the chief financial officer now owns 215,119 shares of the company’s stock, valued at $3,282,715.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,125 shares of company stock valued at $526,758. 8.20% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Emerald Advisers Inc. PA increased its position in shares of Freshpet by 30.4% in the first quarter. Emerald Advisers Inc. PA now owns 575,586 shares of the company’s stock worth $6,331,000 after buying an additional 134,308 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Freshpet during the fourth quarter worth $1,563,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Freshpet during the first quarter worth $183,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Freshpet during the first quarter worth $2,891,000. Finally, KBC Group NV increased its position in shares of Freshpet by 250.4% in the first quarter. KBC Group NV now owns 36,717 shares of the company’s stock worth $404,000 after buying an additional 26,238 shares in the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.
Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company’s products consist of dog food, cat food, and dog and cat treats.
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