Freshpet (NASDAQ:FRPT) PT Raised to $62.00 at JPMorgan Chase & Co.

Freshpet (NASDAQ:FRPT) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.07% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on FRPT. Robert W. Baird increased their price target on Freshpet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. SunTrust Banks dropped their price objective on Freshpet to $45.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. They noted that the move was a valuation call. Stifel Nicolaus set a $57.00 price objective on Freshpet and gave the company a “buy” rating in a report on Friday, September 13th. ValuEngine downgraded Freshpet from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, BidaskClub raised Freshpet from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $52.00.

NASDAQ FRPT opened at $57.37 on Wednesday. The firm has a 50-day moving average price of $52.85 and a two-hundred day moving average price of $47.99. Freshpet has a 12-month low of $28.44 and a 12-month high of $57.41. The company has a market capitalization of $1.94 billion, a P/E ratio of -382.47 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.36.

Freshpet (NASDAQ:FRPT) last announced its earnings results 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 return on equity of 3.52% and a negative net margin of 1.84%. The business had revenue of $65.27 million for the quarter, compared to the consensus estimate of $64.37 million. The firm’s revenue was up 28.5% compared to the same quarter last year. Equities analysts expect that Freshpet will post 0.02 EPS for the current year.

In other Freshpet news, CFO Richard A. Kassar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the chief financial officer now directly owns 148,996 shares in the company, valued at $8,194,780. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard A. Kassar sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $55.50, for a total value of $555,000.00. Following the sale, the chief financial officer now owns 159,994 shares of the company’s stock, valued at $8,879,667. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,964 shares of company stock valued at $1,371,916. 4.90% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. FTB Advisors Inc. raised its holdings in shares of Freshpet by 85.1% during the 3rd quarter. FTB Advisors Inc. now owns 522 shares of the company’s stock worth $26,000 after buying an additional 240 shares in the last quarter. HM Payson & Co. acquired a new stake in Freshpet in the second quarter valued at about $50,000. Redhawk Wealth Advisors Inc. acquired a new stake in Freshpet in the second quarter valued at about $68,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Freshpet by 21.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after buying an additional 363 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its position in Freshpet by 21.4% in the second quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock valued at $155,000 after acquiring an additional 600 shares during the last quarter.

About Freshpet

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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