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

Freshpet, Inc. (NASDAQ:FRPT) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $75.3125.

Several brokerages recently commented on FRPT. Wells Fargo & Company decreased their price target on Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Bank of America cut their target price on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. DA Davidson reduced their price target on shares of Freshpet from $101.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, TD Cowen upped their price objective on Freshpet from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 6th.

Freshpet Trading Down 0.7%

Shares of FRPT opened at $61.57 on Friday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 16.20 and a beta of 1.66. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. Freshpet has a 12-month low of $46.45 and a 12-month high of $86.00. The stock’s 50-day moving average price is $65.64 and its 200 day moving average price is $62.15.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The business had revenue of $305.59 million during the quarter, compared to analyst estimates of $292.35 million. During the same period in the prior year, the company posted $0.33 earnings per share. Freshpet’s revenue was up 15.4% on a year-over-year basis. As a group, research analysts predict that Freshpet will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Walter N. George bought 1,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $64.92 per share, for a total transaction of $64,920.00. Following the transaction, the director owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This represents a 1.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William B. Cyr sold 41,022 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $72.86, for a total transaction of $2,988,862.92. Following the completion of the sale, the chief executive officer owned 267,152 shares in the company, valued at $19,464,694.72. This represents a 13.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 171,636 shares of company stock worth $12,754,864. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Optimize Financial Inc grew its position in Freshpet by 1.4% during the fourth quarter. Optimize Financial Inc now owns 10,957 shares of the company’s stock worth $668,000 after buying an additional 156 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Freshpet by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock valued at $680,000 after purchasing an additional 161 shares in the last quarter. Allworth Financial LP raised its position in shares of Freshpet by 41.0% in the 4th quarter. Allworth Financial LP now owns 1,025 shares of the company’s stock valued at $62,000 after buying an additional 298 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Freshpet during the 2nd quarter worth approximately $25,000.

About Freshpet

Freshpet, Inc is a pet food company that develops, manufactures and markets fresh, refrigerated food and treats for dogs and cats. Its products are made with ingredients such as meat, poultry, fish, vegetables and other nutrients, and are positioned as an alternative to conventional shelf-stable pet food.

The company sells products primarily under the Freshpet brand, including refrigerated meals, rolls, recipes and treats. Freshpet products are distributed through grocery stores, mass retailers, pet specialty stores, natural and specialty food retailers, and e-commerce channels.