Freshpet, Inc. (NASDAQ:FRPT) Receives $74.88 Average PT from Analysts

Shares of Freshpet, Inc. (NASDAQ:FRPT) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $74.8750.

A number of equities research analysts have recently weighed in on the company. Bank of America cut their price target on Freshpet from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $63.00 price objective on shares of Freshpet in a report on Thursday, May 7th. Wells Fargo & Company cut their price objective on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Benchmark lifted their target price on shares of Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Finally, Stifel Nicolaus set a $66.00 target price on shares of Freshpet in a research report on Thursday, May 7th.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $51.68 on Wednesday. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00. The business has a fifty day simple moving average of $57.62 and a 200 day simple moving average of $63.90. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 13.64 and a beta of 1.63.

Insider Buying and Selling at Freshpet

In other Freshpet news, Director Craig D. Steeneck bought 2,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $47.83 per share, with a total value of $95,660.00. Following the completion of the transaction, the director directly owned 37,500 shares of the company’s stock, valued at $1,793,625. This represents a 5.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $2,168,519.85. Following the completion of the sale, the chief executive officer directly owned 224,459 shares of the company’s stock, valued at $11,454,142.77. This represents a 15.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freshpet

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Freshpet by 27.2% in the first quarter. California State Teachers Retirement System now owns 59,465 shares of the company’s stock valued at $3,506,000 after purchasing an additional 12,732 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Freshpet by 13.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 10,183 shares of the company’s stock worth $600,000 after buying an additional 1,217 shares during the period. Maverick Capital Ltd. grew its stake in Freshpet by 356.4% in the 1st quarter. Maverick Capital Ltd. now owns 34,509 shares of the company’s stock valued at $2,035,000 after buying an additional 26,948 shares during the last quarter. Quantinno Capital Management LP grew its stake in Freshpet by 73.2% in the 1st quarter. Quantinno Capital Management LP now owns 87,376 shares of the company’s stock valued at $5,152,000 after buying an additional 36,932 shares during the last quarter. Finally, Wealth Alliance LLC bought a new position in Freshpet in the 1st quarter worth $210,000.

Freshpet Company Profile

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.