Freshpet (NASDAQ:FRPT) Price Target Raised to $170.00

Freshpet (NASDAQ:FRPT) had its price target lifted by investment analysts at Truist Financial from $160.00 to $170.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 11.42% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. TD Cowen boosted their price target on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus raised their target price on shares of Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their target price on Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $150.00 price target on shares of Freshpet in a research report on Friday. Finally, Citigroup upped their price objective on shares of Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.27.

Freshpet Stock Up 1.3 %

Shares of Freshpet stock traded up $2.00 during midday trading on Tuesday, hitting $152.57. The company’s stock had a trading volume of 96,258 shares, compared to its average volume of 579,191. The stock has a 50-day simple moving average of $137.88 and a 200-day simple moving average of $129.30. The firm has a market capitalization of $7.40 billion, a P/E ratio of 172.13 and a beta of 1.39. 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 1-year low of $65.81 and a 1-year high of $154.80.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. As a group, sell-side analysts expect that Freshpet will post 0.73 earnings per share for the current year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in Freshpet in the 3rd quarter valued at $29,000. ORG Partners LLC acquired a new position in shares of Freshpet during the second quarter valued at $32,000. Whittier Trust Co. bought a new position in Freshpet in the first quarter valued at about $41,000. GAMMA Investing LLC increased its position in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter.

Freshpet Company Profile

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.