StockNews.com Upgrades Freshpet (NASDAQ:FRPT) to Sell

Freshpet (NASDAQ:FRPT) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research note issued to investors on Wednesday.

Other research analysts have also recently issued reports about the stock. Piper Sandler upped their price target on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their price target on shares of Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. Finally, Citigroup initiated coverage on shares of Freshpet in a research note on Thursday, February 1st. They issued a “neutral” rating and a $94.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Freshpet currently has an average rating of “Moderate Buy” and an average target price of $107.36.

Freshpet Trading Down 0.6 %

Shares of NASDAQ FRPT traded down $0.64 during mid-day trading on Wednesday, reaching $104.60. The company had a trading volume of 414,338 shares, compared to its average volume of 608,560. The business’s 50-day moving average is $107.11 and its 200-day moving average is $86.36. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -147.32 and a beta of 1.23. Freshpet has a 52 week low of $54.60 and a 52 week high of $117.76.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. The firm had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. Equities analysts expect that Freshpet will post 0.07 earnings per share for the current year.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Scott James Morris sold 2,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the transaction, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the transaction, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,762 shares of company stock valued at $1,737,280. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC acquired a new position in Freshpet in the 1st quarter worth approximately $36,000. Rational Advisors LLC acquired a new position in Freshpet in the 1st quarter worth approximately $2,190,000. Allspring Global Investments Holdings LLC grew its stake in shares of Freshpet by 53.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock worth $16,151,000 after purchasing an additional 48,401 shares during the period. Diversified Trust Co grew its stake in shares of Freshpet by 1.4% during the 1st quarter. Diversified Trust Co now owns 21,171 shares of the company’s stock worth $2,453,000 after purchasing an additional 287 shares during the period. Finally, First Bank & Trust acquired a new stake in shares of Freshpet during the 1st quarter worth approximately $454,000.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.