Freshpet (NASDAQ:FRPT) Price Target Raised to $180.00

Freshpet (NASDAQ:FRPT) had its price objective upped by research analysts at Oppenheimer from $155.00 to $180.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 17.09% from the stock’s previous close.

Several other research firms have also recently weighed in on FRPT. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, TD Cowen lifted their price objective on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

Freshpet Price Performance

FRPT stock opened at $153.73 on Thursday. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 172.73 and a beta of 1.39. The firm’s 50-day moving average price is $140.43 and its two-hundred day moving average price is $131.55. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. Freshpet has a 12-month low of $68.14 and a 12-month high of $159.12.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. Freshpet’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) EPS. As a group, equities analysts predict that Freshpet will post 0.87 earnings per share for the current year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction 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 completion of the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Several large investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Freshpet during the 1st quarter valued at about $244,000. Oppenheimer & Co. Inc. purchased a new stake in Freshpet in the first quarter worth approximately $295,000. Russell Investments Group Ltd. grew its position in Freshpet by 5,447.4% in the 1st quarter. Russell Investments Group Ltd. now owns 10,651 shares of the company’s stock worth $1,234,000 after purchasing an additional 10,459 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Freshpet by 2.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 47,991 shares of the company’s stock valued at $5,560,000 after buying an additional 1,309 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of Freshpet during the 1st quarter valued at $1,935,000.

Freshpet Company Profile

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.