Freshpet, Inc. (NASDAQ:FRPT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eighteen brokerages give Freshpet a consensus “Moderate Buy” rating, with 10 buys, seven holds and one sell. The average 12-month price target is $75.31 versus the reported share price of $65.17.
• Freshpet exceeded quarterly expectations: The company reported $0.39 in adjusted EPS versus the $0.22 consensus estimate, while revenue rose 15.4% year over year to $305.59 million, topping estimates.
• Insiders have been selling shares: CEO William Cyr sold 2,657 shares for approximately $200,338, and insiders sold $12.75 million worth of stock during the last quarter. Institutional ownership activity was mixed, with some funds increasing their positions and others initiating new stakes.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $75.3125.

Several equities research analysts have recently commented on the company. DA Davidson decreased their price objective on Freshpet from $101.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Piper Sandler reiterated an "overweight" rating on shares of Freshpet in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $70.00 price target on shares of Freshpet in a research report on Thursday, August 6th. Morgan Stanley restated an "equal weight" rating and set a $72.00 price target (down from $77.00) on shares of Freshpet in a research note on Thursday, August 6th. Finally, Benchmark restated a "buy" rating on shares of Freshpet in a report on Wednesday, August 19th.

Insider Buying and Selling at Freshpet

In related news, CEO William Cyr sold 2,657 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $75.40, for a total value of $200,337.80. Following the transaction, the chief executive officer owned 49,044 shares of the company's stock, valued at approximately $3,697,917.60. This trade represents a 5.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 171,636 shares of company stock valued at $12,754,864. Corporate insiders own 4.30% of the company's stock.

Institutional Trading of Freshpet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Freshpet by 1.8% in the second quarter. Tidal Investments LLC now owns 39,313 shares of the company's stock valued at $2,324,000 after purchasing an additional 697 shares in the last quarter. WINTON GROUP Ltd grew its holdings in Freshpet by 456.0% during the second quarter. WINTON GROUP Ltd now owns 116,816 shares of the company's stock worth $6,906,000 after buying an additional 95,806 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Freshpet during the second quarter worth $34,000. Amundi raised its position in Freshpet by 6.2% in the 2nd quarter. Amundi now owns 16,944 shares of the company's stock valued at $1,002,000 after buying an additional 986 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Freshpet in the 2nd quarter valued at $840,000.

Freshpet Price Performance

FRPT stock opened at $65.17 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.05 and a quick ratio of 5.03. The company's 50-day moving average is $64.86 and its 200-day moving average is $62.79. The stock has a market capitalization of $3.20 billion, a PE ratio of 17.15 and a beta of 1.66. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The business had revenue of $305.59 million during the quarter, compared to analyst estimates of $292.35 million. During the same period in the previous year, the company posted $0.33 EPS. The firm's revenue was up 15.4% compared to the same quarter last year. Equities research analysts expect that Freshpet will post 1.73 EPS for the current fiscal year.

Freshpet Company Profile

Freshpet Inc NASDAQ: FRPT is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company's products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet's offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet's product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.