Freshpet (NASDAQ:FRPT) Given New $65.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its target price for Freshpet from $88.00 to $65.00, maintaining an "overweight" rating which suggests a potential upside of 32.68% from the current price.
• Freshpet reported earnings of $0.33 per share for the last quarter, significantly surpassing the consensus estimate of $0.12, while revenue increased by 12.5% year-over-year to $264.69 million.
• Insider activity shows increased ownership as Director Timothy R. Mclevish and Director Jacki Sue Kelley both purchased additional shares, indicating confidence in the company's performance.

Freshpet (NASDAQ:FRPT - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $88.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 32.68% from the stock's current price.

A number of other analysts also recently issued reports on FRPT. DA Davidson set a $101.00 price objective on shares of Freshpet in a report on Thursday, August 7th. Benchmark restated a "buy" rating and set a $95.00 price target (down previously from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. JPMorgan Chase & Co. assumed coverage on Freshpet in a report on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 price objective for the company. TD Cowen cut Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective on the stock. in a report on Wednesday, May 28th. Finally, Truist Financial decreased their price target on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Freshpet presently has an average rating of "Hold" and a consensus price target of $106.43.

Freshpet Price Performance

FRPT opened at $48.99 on Thursday. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 73.09, a PEG ratio of 0.91 and a beta of 1.72. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $60.82 and a 200-day moving average price of $72.39. Freshpet has a twelve month low of $49.00 and a twelve month high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The business had revenue of $264.69 million during the quarter, compared to analyst estimates of $269.75 million. During the same period in the previous year, the business earned ($0.03) EPS. Freshpet's revenue was up 12.5% compared to the same quarter last year. Freshpet has set its FY 2025 guidance at EPS. Equities analysts expect that Freshpet will post 1.55 EPS for the current year.

Insider Activity

In other news, Director Timothy R. Mclevish acquired 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $196,000.00. Following the acquisition, the director directly owned 35,290 shares in the company, valued at approximately $1,976,240. The trade was a 11.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jacki Sue Kelley purchased 814 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were bought at an average cost of $56.50 per share, for a total transaction of $45,991.00. Following the acquisition, the director owned 11,907 shares in the company, valued at approximately $672,745.50. The trade was a 7.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 6,008 shares of company stock worth $332,305. Insiders own 4.43% of the company's stock.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new stake in shares of Freshpet during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in Freshpet during the first quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its position in Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock worth $34,000 after acquiring an additional 472 shares during the period. State of Wyoming purchased a new position in shares of Freshpet during the 2nd quarter worth $34,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Freshpet in the 2nd quarter worth $35,000.

About Freshpet

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.

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