Freshpet, Inc. (NASDAQ:FRPT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Freshpet, Inc. (NASDAQ:FRPT) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $74.50.

Several research analysts have weighed in on FRPT shares. Wells Fargo & Company lowered their price objective on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Wednesday, April 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th. Weiss Ratings cut Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $77.00 price objective on shares of Freshpet in a research report on Thursday, May 7th.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $61.94 on Thursday. The business has a fifty day moving average price of $54.49 and a two-hundred day moving average price of $62.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. Freshpet has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The stock has a market capitalization of $3.04 billion, a PE ratio of 16.56 and a beta of 1.60.

Insider Activity

In other news, Director Craig D. Steeneck acquired 2,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $47.83 per share, with a total value of $95,660.00. Following the transaction, the director owned 37,500 shares in the company, valued at $1,793,625. The trade was a 5.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William B. Cyr sold 42,495 shares of Freshpet stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $51.03, for a total value of $2,168,519.85. Following the sale, the chief executive officer owned 224,459 shares in the company, valued at $11,454,142.77. This represents a 15.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders acquired 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Freshpet

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Freshpet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock valued at $321,822,000 after buying an additional 128,499 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Freshpet by 5.2% in the first quarter. Wasatch Advisors LP now owns 4,141,437 shares of the company’s stock worth $244,179,000 after acquiring an additional 204,128 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Freshpet by 30.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock worth $118,982,000 after acquiring an additional 461,444 shares in the last quarter. Capital World Investors grew its stake in shares of Freshpet by 7.1% in the fourth quarter. Capital World Investors now owns 1,587,691 shares of the company’s stock worth $96,738,000 after acquiring an additional 104,913 shares during the last quarter. Finally, Armistice Capital LLC grew its stake in shares of Freshpet by 5.0% in the fourth quarter. Armistice Capital LLC now owns 1,296,000 shares of the company’s stock worth $78,965,000 after acquiring an additional 61,198 shares during the last quarter.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.