Freshpet, Inc. (NASDAQ:FRPT) Receives $74.25 Average Price Target from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have earned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $74.25.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Freshpet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $66.00 to $68.00 in a research report on Thursday, May 7th. Stifel Nicolaus set a $66.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group lowered their price target on Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Finally, Piper Sandler restated an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $59.50 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 15.91 and a beta of 1.60. The business has a 50-day simple moving average of $53.94 and a two-hundred day simple moving average of $62.60. Freshpet has a fifty-two week low of $46.45 and a fifty-two week high of $86.00.

Insiders Place Their Bets

In other Freshpet news, CEO William B. Cyr sold 42,495 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the completion of the sale, the chief executive officer directly owned 224,459 shares in the company, valued at $11,454,142.77. The trade was a 15.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig D. Steeneck purchased 2,000 shares of Freshpet stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $47.83 per share, with a total value of $95,660.00. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,793,625. The trade was a 5.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Freshpet in the 4th quarter worth $28,000. State of Wyoming purchased a new stake in shares of Freshpet in the 2nd quarter worth $34,000. Signaturefd LLC increased its stake in shares of Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares during the period.

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.