Freshpet (NASDAQ:FRPT) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $65.35 and traded as high as $66.78. Freshpet shares last traded at $66.12, with a volume of 847,011 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Freshpet from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 28th. DA Davidson decreased their price objective 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. Deutsche Bank Aktiengesellschaft set a $67.00 target price on shares of Freshpet in a research note on Wednesday, October 21st. TD Cowen lowered their price objective on Freshpet from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Finally, Morgan Stanley lowered shares of Freshpet from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $77.00 to $72.00 in a report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.50.

Freshpet Stock Up 1.6%

The company has a 50 day simple moving average of $65.35 and a two-hundred day simple moving average of $63.81. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $3.25 billion, a P/E ratio of 17.40 and a beta of 1.78.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.17. The company had revenue of $305.59 million for the quarter, compared to analyst estimates of $292.35 million. Freshpet had a return on equity of 5.97% and a net margin of 17.28%. Freshpet’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. As a group, equities analysts predict that Freshpet, Inc. will post 1.25 EPS for the current year.

Insiders Place Their Bets

In other Freshpet news, CEO William B. Cyr sold 41,022 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.86, for a total value of $2,988,862.92. Following the transaction, the chief executive officer owned 267,152 shares of the company’s stock, valued at $19,464,694.72. This represents a 13.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Walter N. George purchased 1,000 shares of Freshpet stock in a transaction that occurred on 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 purchase, the director directly owned 51,746 shares in the company, valued at $3,359,350.32. This trade represents a 1.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 171,636 shares of company stock worth $12,754,864 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Freshpet by 11.8% in the second quarter. Wellington Management Group LLP now owns 2,829,688 shares of the company’s stock worth $167,291,000 after buying an additional 298,460 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Freshpet in the second quarter valued at about $107,066,000. Dimensional Fund Advisors LP raised its position in shares of Freshpet by 9.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 917,785 shares of the company’s stock valued at $54,103,000 after purchasing an additional 78,196 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Freshpet by 200.6% in the first quarter. Jennison Associates LLC now owns 651,202 shares of the company’s stock worth $38,395,000 after buying an additional 434,582 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Freshpet by 146.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 552,400 shares of the company’s stock valued at $32,658,000 after acquiring an additional 328,259 shares during the period.

Freshpet Company Profile

Freshpet, Inc (NASDAQ: FRPT) is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with animal proteins, vegetables and other ingredients and are designed to be stored in the refrigerator rather than on a conventional shelf.

The company sells its products under the Freshpet brand and related product lines, including Freshpet Select and Vital. Its offerings include refrigerated meals, rolls, recipes and treats formulated for different pet sizes, ages and dietary needs.