Freshpet (NASDAQ:FRPT) Raised to “Buy” at Jefferies Financial Group

Freshpet (NASDAQ:FRPT) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $150.00 price target on the stock, down from their previous price target of $155.00. Jefferies Financial Group’s price target points to a potential upside of 49.62% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lowered their target price on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Friday. DA Davidson boosted their price objective on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer boosted their price objective on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their price objective on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.13.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $100.26 on Monday. The company has a market cap of $4.88 billion, a PE ratio of 106.65 and a beta of 1.42. Freshpet has a 12 month low of $89.15 and a 12 month high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a 50-day simple moving average of $145.55 and a 200-day simple moving average of $143.13.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The business had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. On average, equities analysts anticipate that Freshpet will post 1.55 earnings per share for the current year.

Insider Transactions at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total transaction of $786,900.00. Following the completion of the transaction, the president now owns 122,380 shares in the company, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Forum Financial Management LP bought a new position in Freshpet in the 4th quarter valued at about $215,000. Public Employees Retirement System of Ohio lifted its holdings in Freshpet by 24.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 51,129 shares of the company’s stock valued at $7,573,000 after acquiring an additional 10,009 shares during the last quarter. Elequin Capital LP purchased a new stake in Freshpet during the fourth quarter valued at about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Freshpet by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,580 shares of the company’s stock valued at $25,857,000 after buying an additional 13,298 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in Freshpet by 4.0% during the fourth quarter. Vident Advisory LLC now owns 2,111 shares of the company’s stock valued at $313,000 after buying an additional 82 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.