Freshpet (NASDAQ:FRPT) had its price objective raised by equities researchers at Stifel Nicolaus from $57.00 to $70.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 9.19% from the stock’s current price.
Several other equities analysts have also recently issued reports on FRPT. BidaskClub upgraded shares of Freshpet from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. JPMorgan Chase & Co. boosted their price target on shares of Freshpet from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their price target on shares of Freshpet from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, William Blair reissued a “buy” rating on shares of Freshpet in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.50.
Shares of FRPT traded down $0.06 during trading hours on Tuesday, hitting $64.11. The stock had a trading volume of 4,935 shares, compared to its average volume of 263,293. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.36. The firm has a 50-day moving average price of $57.96 and a 200 day moving average price of $50.37. Freshpet has a fifty-two week low of $34.16 and a fifty-two week high of $65.14. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -427.87 and a beta of 1.08.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Freshpet had a negative net margin of 1.84% and a negative return on equity of 3.52%. The firm had revenue of $65.27 million during the quarter, compared to analyst estimates of $64.37 million. The company’s quarterly revenue was up 28.5% on a year-over-year basis. As a group, analysts predict that Freshpet will post 0.01 EPS for the current fiscal year.
In related news, CFO Richard A. Kassar sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $55.50, for a total value of $555,000.00. Following the completion of the sale, the chief financial officer now owns 159,994 shares of the company’s stock, valued at approximately $8,879,667. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Stephen Weise sold 4,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $53.96, for a total transaction of $215,840.00. Following the completion of the sale, the executive vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $215,840. The disclosure for this sale can be found here. In the last three months, insiders sold 26,139 shares of company stock valued at $1,439,772. 4.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Freshpet by 19.4% during the second quarter. BlackRock Inc. now owns 2,288,433 shares of the company’s stock worth $104,147,000 after buying an additional 372,151 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Freshpet by 12.3% during the second quarter. Vanguard Group Inc. now owns 2,045,729 shares of the company’s stock worth $93,101,000 after buying an additional 224,411 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Freshpet by 254.8% during the second quarter. Invesco Ltd. now owns 887,629 shares of the company’s stock worth $40,396,000 after buying an additional 637,442 shares in the last quarter. State Street Corp grew its holdings in shares of Freshpet by 3.5% during the third quarter. State Street Corp now owns 667,239 shares of the company’s stock worth $33,208,000 after buying an additional 22,485 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Freshpet by 2.8% during the third quarter. Eagle Asset Management Inc. now owns 607,551 shares of the company’s stock worth $30,237,000 after buying an additional 16,310 shares in the last quarter.
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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