Freshpet (NASDAQ:FRPT) Shares Up 4.2% - Still a Buy?

Key Points

• Freshpet shares rose 4.2% to $61.48 on Tuesday, trading on thin volume (165,682 shares vs. an average of 1.48M), suggesting the move occurred on relatively low liquidity.
• Several analysts have raised ratings and price targets (e.g., Stifel to $84 buy, Piper Sandler to $87 overweight, Oppenheimer to $80 outperform), but the consensus remains a "Hold" with an average target of $76 (9 Buy, 8 Hold, 1 Sell).
• Freshpet reported a fiscal-quarter EPS beat of $0.64 vs. $0.43 expected and revenue of $285.23M (up 8.6% YoY and roughly in line with estimates); the company trades at a P/E of 24.4 with a market cap of about $3.08B.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report)'s share price shot up 4.2% on Tuesday . The company traded as high as $61.75 and last traded at $61.48. 165,682 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,480,996 shares. The stock had previously closed at $59.01.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FRPT. Stifel Nicolaus lifted their price objective on shares of Freshpet from $65.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Weiss Ratings raised shares of Freshpet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, December 29th. Piper Sandler raised their price target on shares of Freshpet from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 4th. TD Cowen reissued a "hold" rating on shares of Freshpet in a report on Tuesday, March 17th. Finally, Oppenheimer raised shares of Freshpet from a "market perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Friday, March 20th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $76.00.

Freshpet Price Performance

The business's fifty day moving average price is $70.97 and its 200-day moving average price is $62.49. The company has a market capitalization of $3.08 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.97 and a beta of 1.78. The company has a current ratio of 5.54, a quick ratio of 4.57 and a debt-to-equity ratio of 0.35.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.21. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Caitong International Asset Management Co. Ltd grew its position in Freshpet by 606.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company's stock worth $25,000 after acquiring an additional 358 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Freshpet in the fourth quarter worth $28,000. Signaturefd LLC lifted its stake in Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company's stock worth $31,000 after purchasing an additional 296 shares during the last quarter. Parallel Advisors LLC lifted its stake in Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company's stock worth $31,000 after purchasing an additional 197 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Freshpet by 445.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company's stock worth $32,000 after purchasing an additional 432 shares during the last quarter.

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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