Freshpet, Inc. (NASDAQ:FRPT) Receives $163.36 Consensus Target Price from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $163.36.

Several research firms have commented on FRPT. StockNews.com downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Robert W. Baird lifted their price objective on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Benchmark restated a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Oppenheimer lifted their price target on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

Freshpet Price Performance

NASDAQ FRPT opened at $158.03 on Friday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 177.56 and a beta of 1.41. Freshpet has a 12 month low of $84.02 and a 12 month high of $160.91. The company’s 50 day moving average is $150.04 and its two-hundred day moving average is $139.98. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. As a group, research analysts anticipate that Freshpet will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Freshpet

In related news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the sale, the president now owns 122,380 shares in the company, valued at approximately $19,351,949.40. The trade was a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock valued at $1,962,175 in the last three months. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Geneos Wealth Management Inc. lifted its position in shares of Freshpet by 302.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares during the period. ORG Wealth Partners LLC purchased a new stake in Freshpet during the third quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in Freshpet during the 3rd quarter valued at $32,000. R Squared Ltd purchased a new position in shares of Freshpet in the 4th quarter valued at $39,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Freshpet by 3,670.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after acquiring an additional 367 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.