Freshpet (NASDAQ:FRPT) Share Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Freshpet shares rose above their 50-day moving average, reaching $66.78 before last trading at $66.12, compared with a 50-day average of $65.35.
• Analyst sentiment is mixed but leans positive: ten analysts rate the stock a Buy, eight rate it Hold and one rates it Sell. The average price target is $75.50, with targets ranging from $72 to $95 among recent revisions.
• Freshpet exceeded quarterly expectations, reporting $0.39 in earnings per share versus a $0.22 consensus estimate and revenue of $305.59 million, up 15.4% year over year. However, insiders sold substantially more shares than they purchased during the latest quarter.

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $65.35 and traded as high as $66.78. Freshpet shares last traded at $66.12, with a volume of 847,011 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Freshpet from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 28th. Stifel Nicolaus raised their price target on Freshpet from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Needham & Company LLC started coverage on Freshpet in a research note on Thursday, October 1st. They set a "hold" rating for the company. DA Davidson cut their price objective on Freshpet from $101.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Morgan Stanley lowered Freshpet from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $77.00 to $72.00 in a research report on Thursday, August 6th. Ten 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $75.50.

Freshpet Price Performance

The business has a 50 day moving average of $65.35 and a 200 day moving average of $63.81. The company has a market cap of $3.25 billion, a PE ratio of 17.40 and a beta of 1.78. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.05 and a quick ratio of 5.03.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.17. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. The business had revenue of $305.59 million for the quarter, compared to analysts' expectations of $292.35 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The firm's revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, research analysts predict that Freshpet, Inc. will post 1.25 EPS for the current year.

Insider Activity

In other Freshpet news, CEO William Cyr sold 41,022 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.86, for a total value of $2,988,862.92. Following the completion of the transaction, the chief executive officer owned 267,152 shares in the company, valued at approximately $19,464,694.72. This represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter George purchased 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average price of $64.92 per share, with a total value of $64,920.00. Following the completion of the purchase, the director owned 51,746 shares in the company, valued at $3,359,350.32. This represents a 1.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 171,636 shares of company stock worth $12,754,864 in the last quarter. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Freshpet

Several institutional investors have recently added to or reduced their stakes in FRPT. Global Retirement Partners LLC purchased a new stake in shares of Freshpet in the 2nd quarter worth $25,000. Laurel Wealth Advisors LLC bought a new position in Freshpet in the 3rd quarter worth $30,000. Integrated Wealth Concepts LLC purchased a new position in Freshpet during the second quarter valued at $34,000. State of Wyoming purchased a new position in Freshpet during the second quarter valued at $61,000. Finally, Versant Capital Management Inc lifted its position in Freshpet by 254.8% during the second quarter. Versant Capital Management Inc now owns 1,689 shares of the company's stock valued at $100,000 after purchasing an additional 1,213 shares in the last quarter.

Freshpet Company Profile

Freshpet, Inc NASDAQ: FRPT is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with animal proteins, vegetables and other ingredients and are designed to be stored in the refrigerator rather than on a conventional shelf.

The company sells its products under the Freshpet brand and related product lines, including Freshpet Select and Vital. Its offerings include refrigerated meals, rolls, recipes and treats formulated for different pet sizes, ages and dietary needs.

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