Freshpet, Inc. (NASDAQ:FRPT) Stock Has Consensus Target Price of $75.75

Freshpet, Inc. (NASDAQ:FRPT) has been given an average rating of “Hold” by the nineteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $75.75.

A number of analysts have commented on FRPT shares. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a research report on Monday, October 5th. Bank of America lowered their price objective on Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. TD Cowen upped their target price on Freshpet from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $72.00 target price (down from $77.00) on shares of Freshpet in a research report on Thursday, August 6th.

Insider Buying and Selling at Freshpet

In other Freshpet news, CEO William B. Cyr sold 2,657 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $75.40, for a total value of $200,337.80. Following the sale, the chief executive officer directly owned 49,044 shares in the company, valued at approximately $3,697,917.60. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Walter N. George bought 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, with a total value of $64,920.00. Following the completion of the purchase, the director owned 51,746 shares in the company, valued at approximately $3,359,350.32. This trade represents a 1.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 171,636 shares of company stock worth $12,754,864 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

A number of institutional investors have recently made changes to their positions in FRPT. Jupiter Topco LLC acquired a new stake in Freshpet in the second quarter valued at approximately $1,242,000. California State Teachers Retirement System increased its holdings in shares of Freshpet by 27.2% during the first quarter. California State Teachers Retirement System now owns 59,465 shares of the company’s stock worth $3,506,000 after buying an additional 12,732 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Freshpet during the second quarter worth $6,463,000. WINTON GROUP Ltd lifted its stake in shares of Freshpet by 456.0% in the 2nd quarter. WINTON GROUP Ltd now owns 116,816 shares of the company’s stock valued at $6,906,000 after acquiring an additional 95,806 shares during the last quarter. Finally, Commerce Bank bought a new position in shares of Freshpet in the 2nd quarter valued at $3,030,000.

Freshpet Stock Performance

NASDAQ:FRPT opened at $64.07 on Tuesday. Freshpet has a twelve month low of $46.45 and a twelve month high of $86.00. The company has a current ratio of 6.05, a quick ratio of 5.03 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $66.46 and a 200-day moving average of $60.38. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 16.86 and a beta of 1.78.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. The business had revenue of $305.59 million for the quarter, compared to the consensus estimate of $292.35 million. Freshpet had a return on equity of 5.97% and a net margin of 17.28%. Freshpet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. Analysts forecast that Freshpet will post 1.26 earnings per share for the current fiscal year.

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 ingredients such as meat, poultry, fish, vegetables and other components, and are kept refrigerated throughout distribution and retail.

The company sells fresh meals, rolls, treats and other pet nutrition products under the Freshpet brand and related product lines. Its offerings are marketed through grocery stores, mass merchants, club stores, pet specialty retailers, e-commerce platforms and other retail channels.

Freshpet was founded in 2006 and is based in Secaucus, New Jersey.