Freshpet, Inc. (NASDAQ:FRPT) Stock Has Average Price Target of $75.53 According to Brokerages

Key Points

• Freshpet has a consensus “Hold” rating from 18 analysts, with nine buys, eight holds and one sell. The average 12-month price target is $75.53, compared with the stock’s reported price of $67.50.
• Freshpet’s latest quarterly results exceeded expectations: earnings per share were $0.39 versus a $0.22 estimate, while revenue reached $305.59 million, up 15.4% year over year.
• Insider activity was mixed, with a director purchasing 1,000 shares while the CEO sold 2,657 shares; insiders sold 171,636 shares worth approximately $12.75 million over the past 90 days.

Shares of Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) have been assigned a consensus rating of "Hold" from the eighteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $75.53.

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $67.00 target price on shares of Freshpet in a report on Wednesday, October 21st. TD Cowen cut their price objective on Freshpet from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, October 13th. Benchmark reaffirmed a "buy" rating on shares of Freshpet in a research report on Wednesday, August 19th. Needham & Company LLC initiated coverage on Freshpet in a research note on Thursday, October 1st. They issued a "hold" rating on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Freshpet from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Monday, October 26th.

Insider Transactions at Freshpet

In related news, Director Walter N. George acquired 1,000 shares of the stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $64.92 per share, with a total value of $64,920.00. Following the completion of the transaction, the director owned 51,746 shares in the company, valued at $3,359,350.32. This represents a 1.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William B. Cyr sold 2,657 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $75.40, for a total transaction of $200,337.80. Following the completion of the sale, the chief executive officer directly owned 49,044 shares in the company, valued at approximately $3,697,917.60. This trade represents a 5.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 171,636 shares of company stock worth $12,754,864 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

A number of institutional investors and hedge funds have recently modified their holdings of FRPT. Global Retirement Partners LLC purchased a new stake in shares of Freshpet during the 2nd quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of Freshpet in the 3rd quarter valued at $30,000. Integrated Wealth Concepts LLC acquired a new stake in Freshpet during the 2nd quarter worth $34,000. State of Wyoming acquired a new stake in Freshpet during the 2nd quarter worth $61,000. Finally, Versant Capital Management Inc raised its stake in Freshpet by 254.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,689 shares of the company's stock worth $100,000 after acquiring an additional 1,213 shares in the last quarter.

Freshpet Stock Performance

NASDAQ FRPT opened at $67.50 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 has a market cap of $3.32 billion, a P/E ratio of 17.76 and a beta of 1.78. The stock has a 50-day moving average of $65.22 and a two-hundred day moving average of $63.83. 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 quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.17. The business had revenue of $305.59 million for the quarter, compared to analysts' expectations of $292.35 million. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. The business's quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, analysts anticipate that Freshpet will post 1.25 EPS for the current year.

About Freshpet

Freshpet, Inc NASDAQ: FRPT is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with animal proteins, vegetables and other ingredients and are designed to be stored in the refrigerator rather than on a conventional shelf.

The company sells its products under the Freshpet brand and related product lines, including Freshpet Select and Vital. Its offerings include refrigerated meals, rolls, recipes and treats formulated for different pet sizes, ages and dietary needs.

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