Freshpet (NASDAQ:FRPT) Given New $170.00 Price Target at Robert W. Baird

Freshpet (NASDAQ:FRPT) had its target price lifted by Robert W. Baird from $157.00 to $170.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

FRPT has been the topic of several other research reports. TD Cowen upped their price objective on Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Benchmark reissued a “buy” rating and issued a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Wells Fargo & Company boosted their price objective on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Truist Financial increased their price target on Freshpet from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.13.

Freshpet Price Performance

FRPT stock opened at $156.45 on Tuesday. The firm has a market capitalization of $7.59 billion, a P/E ratio of 175.79 and a beta of 1.39. Freshpet has a 52 week low of $65.85 and a 52 week high of $159.12. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $139.37 and a two-hundred day simple moving average of $130.33.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The firm’s revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.15) EPS. Analysts anticipate that Freshpet will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its holdings in shares of Freshpet by 23.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock valued at $101,000 after acquiring an additional 138 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Freshpet by 31.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,713 shares of the company’s stock valued at $13,091,000 after acquiring an additional 22,651 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Freshpet in the third quarter valued at $4,751,000. Savoir Faire Capital Management L.P. lifted its holdings in shares of Freshpet by 119.7% during the 3rd quarter. Savoir Faire Capital Management L.P. now owns 53,391 shares of the company’s stock worth $7,302,000 after acquiring an additional 29,091 shares during the period. Finally, GLOBALT Investments LLC GA lifted its stake in Freshpet by 3.2% during the third quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock worth $490,000 after purchasing an additional 111 shares during the period.

About Freshpet

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.