Freshpet (NASDAQ:FRPT) Price Target Raised to $170.00

Freshpet (NASDAQ:FRPT) had its price target raised by Truist Financial from $160.00 to $170.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a report on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird upped their price target on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Cowen increased their price target on Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.13.

Freshpet Stock Down 1.3 %

NASDAQ:FRPT opened at $153.22 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The company’s fifty day moving average price is $138.96 and its 200-day moving average price is $129.97. Freshpet has a 1-year low of $65.81 and a 1-year high of $157.10. The firm has a market capitalization of $7.43 billion, a P/E ratio of 172.16 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.72% and a net margin of 4.75%. The business had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same quarter last year, the business posted ($0.15) EPS. The company’s revenue was up 26.3% on a year-over-year basis. As a group, equities research analysts anticipate that Freshpet will post 0.73 EPS for the current year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet 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 owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the period. GLOBALT Investments LLC GA grew its stake in shares of Freshpet by 3.2% in the 3rd quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock valued at $490,000 after buying an additional 111 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Freshpet by 13.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock worth $169,000 after buying an additional 159 shares during the last quarter. Amalgamated Bank raised its position in shares of Freshpet by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock valued at $355,000 after buying an additional 171 shares during the period. Finally, KBC Group NV grew its position in Freshpet by 0.8% in the third quarter. KBC Group NV now owns 24,869 shares of the company’s stock worth $3,401,000 after acquiring an additional 186 shares during the period.

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.