Freshpet (NASDAQ:FRPT) PT Raised to $70.00

Freshpet (NASDAQ:FRPT) had its target price upped by equities research analysts at Stifel Nicolaus from $57.00 to $70.00 in a research report issued on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 9.19% from the stock’s current price.

FRPT has been the subject of several other research reports. Imperial Capital increased their price objective on shares of Freshpet from $40.00 to $55.00 and gave the company an “inline” rating in a research report on Friday, December 6th. Robert W. Baird increased their price objective on shares of Freshpet from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. ValuEngine lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Freshpet from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $59.50.

FRPT stock traded down $0.06 during trading on Tuesday, hitting $64.11. 4,935 shares of the company’s stock traded hands, compared to its average volume of 263,293. Freshpet has a 52 week low of $34.16 and a 52 week high of $65.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.36. The business has a fifty day simple moving average of $57.96 and a 200 day simple moving average of $50.37. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -427.87 and a beta of 1.08.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). Freshpet had a negative net margin of 1.84% and a negative return on equity of 3.52%. The business had revenue of $65.27 million for the quarter, compared to the consensus estimate of $64.37 million. The company’s quarterly revenue was up 28.5% compared to the same quarter last year. Research analysts forecast that Freshpet will post 0.01 earnings per share for the current fiscal year.

In other news, COO Scott James Morris sold 1,175 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $57.75, for a total value of $67,856.25. Following the completion of the sale, the chief operating officer now owns 161,623 shares in the company, valued at approximately $9,333,728.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard A. Kassar sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $55.50, for a total transaction of $555,000.00. Following the completion of the sale, the chief financial officer now owns 159,994 shares of the company’s stock, valued at approximately $8,879,667. The disclosure for this sale can be found here. Insiders sold a total of 26,139 shares of company stock valued at $1,439,772 in the last 90 days. Company insiders own 4.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FRPT. FTB Advisors Inc. lifted its holdings in Freshpet by 85.1% during the 3rd quarter. FTB Advisors Inc. now owns 522 shares of the company’s stock valued at $26,000 after buying an additional 240 shares in the last quarter. United Services Automobile Association lifted its holdings in Freshpet by 6.0% during the 2nd quarter. United Services Automobile Association now owns 6,835 shares of the company’s stock valued at $311,000 after buying an additional 389 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Freshpet by 0.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 100,833 shares of the company’s stock valued at $4,589,000 after buying an additional 438 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in Freshpet by 21.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock valued at $155,000 after buying an additional 600 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Freshpet by 2.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,984 shares of the company’s stock valued at $1,144,000 after buying an additional 613 shares in the last quarter.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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