Freshpet (NASDAQ:FRPT) Share Price Passes Above 200 Day Moving Average – Here’s Why

Freshpet, Inc. (NASDAQ:FRPT)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $59.69 and traded as high as $63.76. Freshpet shares last traded at $63.26, with a volume of 1,130,977 shares.

Analyst Ratings Changes

Several brokerages have recently commented on FRPT. Jefferies Financial Group restated a “hold” rating and issued a $56.00 target price on shares of Freshpet in a research note on Tuesday, November 4th. TD Cowen boosted their price target on shares of Freshpet from $56.00 to $61.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. UBS Group set a $48.00 price objective on shares of Freshpet and gave the stock a “sell” rating in a research note on Tuesday, November 4th. Truist Financial dropped their price objective on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Finally, Wells Fargo & Company boosted their target price on Freshpet from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.75.

Freshpet Stock Up 1.6%

The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.57 and a beta of 1.71. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.61 and a current ratio of 5.52. The firm’s 50-day simple moving average is $60.26 and its two-hundred day simple moving average is $59.58.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $0.43 by $1.43. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The business had revenue of $288.85 million for the quarter, compared to analysts’ expectations of $283.73 million. During the same period in the prior year, the firm earned $0.24 earnings per share. Freshpet’s revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,142 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.33, for a total transaction of $320,500.86. Following the completion of the sale, the president owned 30,858 shares in the company, valued at $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freshpet

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock valued at $31,000 after buying an additional 197 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Freshpet by 445.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock valued at $32,000 after acquiring an additional 432 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 472 shares during the period. State of Wyoming bought a new position in Freshpet during the 2nd quarter worth approximately $34,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Freshpet during the 2nd quarter worth approximately $35,000.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.