Freshpet (NASDAQ:FRPT) Stock Price Up 7.1% - What's Next?

Key Points

• Freshpet shares rose 7.1% to approximately $72.56, although trading volume was 67% below the average daily volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $75.31; ratings include 10 Buys, seven Holds, and one Sell.
• Freshpet has a $3.56 billion market capitalization and strong liquidity, while insider activity was mixed: a director purchased shares, but the CEO and other insiders sold roughly $9.3 million of stock over the past 90 days.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) shot up 7.1% during mid-day trading on Tuesday . The stock traded as high as $71.83 and last traded at $72.5610. 506,557 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 1,513,920 shares. The stock had previously closed at $67.77.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FRPT. Weiss Ratings lowered Freshpet from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Jefferies Financial Group reduced their target price on Freshpet from $75.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, April 22nd. Wall Street Zen upgraded Freshpet from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $70.00 price target on shares of Freshpet in a research report on Thursday. Finally, Piper Sandler restated an "overweight" rating on shares of Freshpet in a report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.31.

Freshpet Stock Up 6.9%

The firm has a market cap of $3.56 billion, a PE ratio of 19.02 and a beta of 1.61. 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 business has a fifty day moving average price of $56.56 and a two-hundred day moving average price of $62.60.

Insider Activity

In other Freshpet news, Director Craig D. Steeneck bought 2,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price 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 approximately $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William B. Cyr sold 42,907 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the completion of the sale, the chief executive officer directly owned 204,585 shares of the company's stock, valued at $9,803,713.20. This trade represents a 17.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 188,760 shares of company stock worth $9,306,127. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Freshpet

A number of institutional investors have recently modified their holdings of FRPT. Trillium Asset Management LLC purchased a new position in shares of Freshpet during the 2nd quarter valued at $2,255,000. Western Standard LLC purchased a new stake in shares of Freshpet during the second quarter worth $7,526,000. Deutsche Bank AG purchased a new stake in shares of Freshpet during the second quarter worth $23,587,000. Global Retirement Partners LLC acquired a new stake in Freshpet during the second quarter valued at $25,000. Finally, State of Wyoming acquired a new stake in Freshpet during the second quarter valued at $61,000.

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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