Freshpet (NASDAQ:FRPT) Given New $170.00 Price Target at Robert W. Baird

Freshpet (NASDAQ:FRPT) had its target price hoisted by Robert W. Baird from $157.00 to $170.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently commented on FRPT. Bank of America increased their target price on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Company increased their price target on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Citigroup upped their price objective on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus boosted their price target on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.47.

Freshpet Trading Up 0.7 %

FRPT opened at $151.59 on Tuesday. Freshpet has a fifty-two week low of $65.81 and a fifty-two week high of $154.80. The firm has a market capitalization of $7.35 billion, a PE ratio of 170.33 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The company’s 50-day moving average is $138.19 and its 200 day moving average is $129.63.

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

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, 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 this link. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshpet

Large investors have recently modified their holdings of the company. Geneva Capital Management LLC grew its position in Freshpet by 166.2% during the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after acquiring an additional 52,584 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Freshpet in the 3rd quarter worth $77,000. Baillie Gifford & Co. grew its stake in shares of Freshpet by 2.6% during the third quarter. Baillie Gifford & Co. now owns 51,331 shares of the company’s stock valued at $7,021,000 after buying an additional 1,318 shares during the last quarter. Entropy Technologies LP increased its holdings in shares of Freshpet by 34.3% in the third quarter. Entropy Technologies LP now owns 4,309 shares of the company’s stock worth $589,000 after buying an additional 1,101 shares during the period. Finally, WCM Investment Management LLC lifted its stake in shares of Freshpet by 749.7% in the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock valued at $376,187,000 after acquiring an additional 2,445,199 shares during 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.