Freshpet (NASDAQ:FRPT) Reaches New 1-Year High – Time to Buy?

Freshpet, Inc. (NASDAQ:FRPT) hit a new 52-week high on Monday . The stock traded as high as $144.63 and last traded at $144.08, with a volume of 146788 shares traded. The stock had previously closed at $141.98.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FRPT. Piper Sandler reissued an “overweight” rating and set a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their price target on Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen raised their price target on Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird raised their price target on Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Citigroup lifted their target price on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus target price of $144.53.

Freshpet Price Performance

The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 789.22 and a beta of 1.39. The company has a 50 day moving average of $136.52 and a 200 day moving average of $126.86. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $230.99 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. As a group, equities research analysts forecast that Freshpet, Inc. will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Freshpet

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Freshpet by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after purchasing an additional 13,709 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Freshpet by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 923,507 shares of the company’s stock valued at $119,492,000 after purchasing an additional 22,759 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Freshpet by 24.4% during the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after purchasing an additional 141,615 shares in the last quarter. Sei Investments Co. boosted its holdings in Freshpet by 4.4% during the first quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock valued at $28,852,000 after purchasing an additional 10,456 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Freshpet by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 216,155 shares of the company’s stock worth $18,754,000 after acquiring an additional 4,385 shares in the last quarter.

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.