Freshpet (NASDAQ:FRPT) Given “Buy” Rating at Benchmark

Freshpet (NASDAQ:FRPT)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a research report issued on Friday, Benzinga reports. They presently have a $150.00 target price on the stock. Benchmark’s price objective would suggest a potential upside of 13.07% from the company’s previous close.

A number of other research analysts also recently issued reports on FRPT. Citigroup upped their price target on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. TD Cowen upped their price target on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company upped their price target on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America upped their price target on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial upped their price target on Freshpet from $135.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research 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, Freshpet has a consensus rating of “Moderate Buy” and an average target price of $145.87.

Freshpet Stock Up 0.1 %

Shares of NASDAQ FRPT traded up $0.12 during trading on Friday, reaching $132.66. The company had a trading volume of 117,591 shares, compared to its average volume of 570,772. Freshpet has a 12-month low of $57.11 and a 12-month high of $145.68. The stock has a market cap of $6.43 billion, a PE ratio of 263.76 and a beta of 1.39. The business’s 50-day moving average is $137.71 and its 200 day moving average is $128.58. 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 (NASDAQ:FRPT) last released its earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. During the same period in the prior year, the firm posted ($0.35) earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. As a group, equities analysts forecast that Freshpet will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Freshpet

Several institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Freshpet by 53.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock valued at $16,151,000 after buying an additional 48,401 shares in the last quarter. Hardy Reed LLC purchased a new position in Freshpet during the 1st quarter valued at approximately $253,000. Whittier Trust Co. purchased a new position in Freshpet during the 1st quarter valued at approximately $41,000. Central Pacific Bank Trust Division purchased a new position in Freshpet during the 1st quarter valued at approximately $520,000. Finally, RiverPark Advisors LLC grew its holdings in Freshpet by 467.1% during the 1st quarter. RiverPark Advisors LLC now owns 2,342 shares of the company’s stock valued at $271,000 after buying an additional 1,929 shares in the last quarter.

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.