TD Cowen Boosts Freshpet (NASDAQ:FRPT) Price Target to $160.00

Freshpet (NASDAQ:FRPT) had its target price raised by TD Cowen from $143.00 to $160.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on FRPT. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Freshpet in a report on Thursday, May 23rd. They issued a buy rating and a $150.00 target price on the stock. Oppenheimer raised their price target on Freshpet from $135.00 to $155.00 and gave the company an outperform rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their price objective on Freshpet from $113.00 to $126.00 and gave the company a neutral rating in a report on Tuesday, August 6th. Piper Sandler reissued an overweight rating and set a $150.00 price objective on shares of Freshpet in a report on Tuesday, July 2nd. Finally, Robert W. Baird raised their price objective on Freshpet from $140.00 to $157.00 and gave the stock an outperform rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $142.87.

Freshpet Price Performance

Freshpet stock opened at $135.25 on Wednesday. The company’s 50 day moving average is $128.54 and its two-hundred day moving average is $120.68. The firm has a market cap of $6.55 billion, a PE ratio of 751.39 and a beta of 1.36. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. Freshpet has a 52-week low of $54.60 and a 52-week high of $143.06.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. During the same period last year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, research analysts expect that Freshpet will post 0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshpet

Several hedge funds have recently modified their holdings of FRPT. GAMMA Investing LLC increased its stake in Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after buying an additional 108 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Freshpet by 13.9% during the second quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock worth $169,000 after acquiring an additional 159 shares during the period. Amalgamated Bank raised its holdings in Freshpet by 6.7% during the second quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock worth $355,000 after purchasing an additional 171 shares in the last quarter. CWM LLC raised its holdings in Freshpet by 65.9% during the second quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after purchasing an additional 197 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in Freshpet by 9.6% in the second quarter. RiverPark Advisors LLC now owns 2,568 shares of the company’s stock valued at $332,000 after purchasing an additional 226 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.