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

Shares of Freshpet, Inc. (NASDAQ:FRPTGet Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $161.94 and last traded at $161.84, with a volume of 77166 shares. The stock had previously closed at $158.36.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of research reports. DA Davidson raised their price target on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. Stifel Nicolaus boosted their price objective on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Truist Financial raised their target price on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.36.

Read Our Latest Stock Analysis on Freshpet

Freshpet Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The firm’s fifty day simple moving average is $150.61 and its 200 day simple moving average is $140.93. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 179.22 and a beta of 1.41.

Freshpet (NASDAQ:FRPTGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. The business had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm’s revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS. On average, sell-side analysts forecast that Freshpet, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Scott James Morris sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total value of $790,650.00. Following the sale, the president now directly owns 122,380 shares in the company, valued at $19,351,949.40. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,500 shares of company stock worth $1,962,175. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FRPT. Geneos Wealth Management Inc. increased its holdings in shares of Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after buying an additional 151 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Freshpet in the 3rd quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Freshpet during the third quarter worth about $32,000. R Squared Ltd acquired a new stake in Freshpet during the 4th quarter valued at approximately $39,000. Finally, Brooklyn Investment Group acquired a new position in shares of Freshpet in the 3rd quarter worth approximately $54,000.

Freshpet Company Profile

(Get Free Report)

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.

Further Reading

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