Brokerages Set Freshpet Inc (NASDAQ:FRPT) Target Price at $50.86

Shares of Freshpet Inc (NASDAQ:FRPT) have been assigned a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $53.57.

Several research firms have recently issued reports on FRPT. ValuEngine downgraded Freshpet from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird raised their price objective on shares of Freshpet from $50.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Freshpet from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus set a $57.00 target price on shares of Freshpet and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, BidaskClub upgraded shares of Freshpet from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th.

In other news, VP Stephen Macchiaverna sold 4,966 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.50, for a total transaction of $270,647.00. Following the completion of the transaction, the vice president now directly owns 86,603 shares in the company, valued at $4,719,863.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Weise sold 4,000 shares of Freshpet stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $53.96, for a total value of $215,840.00. Following the completion of the transaction, the executive vice president now directly owns 4,000 shares in the company, valued at $215,840. The disclosure for this sale can be found here. Insiders have sold a total of 24,964 shares of company stock worth $1,371,916 over the last ninety days. Company insiders own 4.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. FTB Advisors Inc. lifted its position in shares of Freshpet by 85.1% in the 3rd quarter. FTB Advisors Inc. now owns 522 shares of the company’s stock worth $26,000 after purchasing an additional 240 shares during the period. HM Payson & Co. bought a new stake in shares of Freshpet in the 2nd quarter valued at $50,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Freshpet in the 2nd quarter valued at $68,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Freshpet by 21.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock worth $95,000 after buying an additional 363 shares during the period. Finally, NumerixS Investment Technologies Inc increased its position in shares of Freshpet by 21.4% during the second quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock worth $155,000 after buying an additional 600 shares during the period.

FRPT traded down $0.66 on Monday, reaching $56.71. The stock had a trading volume of 345,983 shares, compared to its average volume of 334,585. Freshpet has a fifty-two week low of $28.44 and a fifty-two week high of $58.11. The firm has a 50-day moving average of $53.02 and a 200-day moving average of $48.03. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -378.07 and a beta of 1.06.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, missing the 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 firm had revenue of $65.27 million during the quarter, compared to the consensus estimate of $64.37 million. The company’s revenue was up 28.5% compared to the same quarter last year. Sell-side analysts anticipate that Freshpet will post 0.02 EPS for the current fiscal year.

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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