Freshpet, Inc. (NASDAQ:FRPT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Freshpet a “Moderate Buy” consensus: Of 18 analysts, 10 rate the stock a buy, seven recommend holding it, and one rates it a sell. The average 12-month price target is $75.31.
• Recent analyst views were mixed, with Stifel raising its target to $78 and Wells Fargo, Morgan Stanley, and Deutsche Bank maintaining or issuing lower targets ranging from $70 to $72.
• Insider activity was mixed: CEO William B. Cyr sold 4,319 shares, while director Craig D. Steeneck bought 2,000 shares; overall, insiders sold 94,396 shares worth about $4.67 million over the past three months.

Shares of Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $75.3125.

Several analysts have commented on FRPT shares. Wells Fargo & Company lowered their price target on Freshpet from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, July 8th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $72.00 target price (down from $77.00) on shares of Freshpet in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Freshpet from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, June 1st. Stifel Nicolaus raised their price objective on Freshpet from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $70.00 target price on shares of Freshpet in a research report on Thursday, August 6th.

Insiders Place Their Bets

In other Freshpet news, CEO William B. Cyr sold 4,319 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $51.18, for a total transaction of $221,046.42. Following the sale, the chief executive officer directly owned 25,565 shares of the company's stock, valued at approximately $1,308,416.70. This represents a 14.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig D. Steeneck bought 2,000 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $47.83 per share, for a total transaction of $95,660.00. Following the acquisition, the director directly owned 37,500 shares of the company's stock, valued at $1,793,625. The trade was a 5.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 94,396 shares of company stock worth $4,667,826 over the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Freshpet

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Freshpet by 86.3% during the first quarter. Royal Bank of Canada now owns 67,623 shares of the company's stock worth $5,624,000 after acquiring an additional 31,334 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock valued at $151,000 after purchasing an additional 1,593 shares during the last quarter. United Services Automobile Association bought a new stake in Freshpet in the 1st quarter valued at about $247,000. EverSource Wealth Advisors LLC boosted its stake in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock valued at $34,000 after purchasing an additional 472 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in Freshpet by 140.3% during the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company's stock valued at $428,000 after purchasing an additional 3,676 shares during the period.

Freshpet Stock Performance

Shares of Freshpet stock opened at $72.76 on Monday. Freshpet has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The business's fifty day moving average is $58.37 and its two-hundred day moving average is $62.62. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.58 billion, a PE ratio of 19.15 and a beta of 1.61.

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.

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