Freshpet (NASDAQ:FRPT) Lowered to Sell Rating by Wall Street Zen

Key Points

• Freshpet was downgraded by Wall Street Zen from hold to sell, adding to a mixed analyst backdrop on the stock.
• Despite the downgrade, the broader analyst consensus remains Moderate Buy, with 10 Buy ratings, 6 Hold ratings, 1 Strong Buy, and 1 Sell; the average price target is $74.25.
• Freshpet shares opened at $57.54, below the average price target and well under the stock’s 52-week high of $86.00; the company also saw CEO William B. Cyr sell 42,907 shares in May.

Freshpet (NASDAQ:FRPT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on FRPT. Stifel Nicolaus set a $66.00 price objective on Freshpet in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Freshpet from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Bank of America lowered their price target on shares of Freshpet from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. Morgan Stanley restated an "overweight" rating and set a $77.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Finally, Jefferies Financial Group cut their price objective on shares of Freshpet from $75.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.25.

Freshpet Stock Performance

Shares of FRPT opened at $57.54 on Friday. The firm has a market cap of $2.83 billion, a PE ratio of 15.39 and a beta of 1.60. The stock's fifty day moving average price is $53.72 and its two-hundred day moving average price is $62.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00.

Insider Buying and Selling

In related news, CEO William B. Cyr sold 42,907 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the sale, the chief executive officer owned 204,585 shares of the company's stock, valued at approximately $9,803,713.20. This represents a 17.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have purchased 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Optimize Financial Inc increased its stake in Freshpet by 1.4% in the 4th quarter. Optimize Financial Inc now owns 10,957 shares of the company's stock worth $668,000 after acquiring an additional 156 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Freshpet by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company's stock valued at $680,000 after acquiring an additional 161 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company's stock worth $31,000 after purchasing an additional 197 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Freshpet by 32.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 882 shares of the company's stock worth $53,000 after purchasing an additional 214 shares in the last quarter. Finally, Ossiam increased its position in shares of Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company's stock worth $35,000 after purchasing an additional 228 shares during the last quarter.

About Freshpet

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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