Freshpet (FRPT) PT Raised to $20.00

Freshpet (NASDAQ:FRPT) had its price objective raised by Credit Suisse Group from $17.00 to $20.00 in a research note published on Wednesday morning. The brokerage currently has a neutral rating on the stock.

FRPT has been the subject of a number of other reports. BidaskClub lowered Freshpet from a buy rating to a hold rating in a report on Thursday, December 28th. Zacks Investment Research lowered Freshpet from a hold rating to a sell rating in a report on Tuesday, January 9th. Stifel Nicolaus reissued a buy rating on shares of Freshpet in a report on Friday, December 15th. Robert W. Baird reissued a buy rating and issued a $22.00 price objective on shares of Freshpet in a report on Wednesday, January 3rd. Finally, Oppenheimer reissued a hold rating on shares of Freshpet in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $19.07.

Freshpet (NASDAQ:FRPT) opened at $18.85 on Wednesday. Freshpet has a fifty-two week low of $9.25 and a fifty-two week high of $20.50. The stock has a market capitalization of $658.88, a P/E ratio of -145.00 and a beta of 1.97.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The business had revenue of $41.20 million during the quarter, compared to analyst estimates of $41.19 million. During the same period in the prior year, the company posted $0.02 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. sell-side analysts anticipate that Freshpet will post -0.11 EPS for the current year.

In other Freshpet news, COO Scott James Morris sold 10,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the completion of the transaction, the chief operating officer now directly owns 212,307 shares of the company’s stock, valued at approximately $3,651,680.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Kassar sold 15,125 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $17.92, for a total value of $271,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,218 shares of company stock valued at $1,211,499. 6.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FRPT. Schwab Charles Investment Management Inc. boosted its stake in Freshpet by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock valued at $1,145,000 after purchasing an additional 380 shares in the last quarter. Rhumbline Advisers boosted its stake in Freshpet by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock valued at $419,000 after purchasing an additional 1,640 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Freshpet by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,954 shares of the company’s stock valued at $9,960,000 after purchasing an additional 68,254 shares in the last quarter. Teachers Advisors LLC boosted its stake in Freshpet by 21.3% during the 2nd quarter. Teachers Advisors LLC now owns 44,712 shares of the company’s stock valued at $742,000 after purchasing an additional 7,855 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Freshpet by 10.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 83,853 shares of the company’s stock valued at $1,392,000 after purchasing an additional 7,839 shares in the last quarter. 69.73% of the stock is owned by hedge funds and other institutional investors.

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About Freshpet

Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company’s products consist of dog food, cat food, and dog and cat treats.

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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