Freshpet (NASDAQ:FRPT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Freshpet has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, amid mixed signals from other analysts who still maintain various target prices and ratings.
• The company's recent earnings report showed a 12.5% year-over-year revenue increase, with a reported EPS of $0.33, significantly beating analysts' expectations.
• Freshpet currently holds a consensus rating of "Hold" with a target price averaging around $116.64, despite recent adjustments in price targets by several analysts.

Freshpet (NASDAQ:FRPT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other research firms have also weighed in on FRPT. UBS Group initiated coverage on Freshpet in a research note on Monday, June 16th. They issued a "sell" rating and a $65.00 target price on the stock. Robert W. Baird reduced their target price on Freshpet from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on Freshpet from $91.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus set a $90.00 target price on Freshpet and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, TD Cowen lowered Freshpet from a "buy" rating to a "hold" rating and set a $96.00 target price on the stock. in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Freshpet has a consensus rating of "Hold" and an average price target of $110.36.

Freshpet Price Performance

FRPT traded down $0.37 during trading on Friday, reaching $62.37. 1,168,395 shares of the company traded hands, compared to its average volume of 1,354,830. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. Freshpet has a 12-month low of $61.60 and a 12-month high of $164.07. The firm has a fifty day simple moving average of $71.77 and a 200 day simple moving average of $88.21. The company has a market cap of $3.04 billion, a P/E ratio of 93.09, a PEG ratio of 1.11 and a beta of 1.77.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.21. The firm had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a return on equity of 4.82% and a net margin of 3.23%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. On average, equities analysts forecast that Freshpet will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Several institutional investors have recently added to or reduced their stakes in FRPT. O Shaughnessy Asset Management LLC acquired a new stake in Freshpet in the fourth quarter worth about $293,000. Envestnet Asset Management Inc. boosted its holdings in Freshpet by 143.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 173,310 shares of the company's stock worth $25,669,000 after acquiring an additional 102,232 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Freshpet by 267.0% during the fourth quarter. Renaissance Technologies LLC now owns 155,596 shares of the company's stock worth $23,045,000 after purchasing an additional 113,200 shares during the period. CenterBook Partners LP lifted its holdings in shares of Freshpet by 44.4% during the fourth quarter. CenterBook Partners LP now owns 3,322 shares of the company's stock worth $492,000 after purchasing an additional 1,022 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Freshpet by 1.9% during the fourth quarter. Bessemer Group Inc. now owns 11,732 shares of the company's stock worth $1,738,000 after purchasing an additional 220 shares during the period.

Freshpet Company Profile

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.