Analysts Set Freshpet, Inc. (NASDAQ:FRPT) Target Price at $75.94

Freshpet, Inc. (NASDAQ:FRPT) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $75.5625.

Several research analysts recently weighed in on FRPT shares. Morgan Stanley upgraded Freshpet from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $71.00 to $90.00 in a research note on Tuesday, February 24th. Piper Sandler boosted their target price on Freshpet from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Wells Fargo & Company dropped their target price on Freshpet from $90.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Freshpet from $69.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, Stifel Nicolaus dropped their target price on Freshpet from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday.

Freshpet Stock Down 0.4%

Shares of FRPT traded down $0.25 during trading hours on Tuesday, hitting $67.87. The company had a trading volume of 58,821 shares, compared to its average volume of 1,460,436. The company has a market capitalization of $3.33 billion, a PE ratio of 26.41 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 has a one year low of $46.76 and a one year high of $89.80. The company’s fifty day moving average price is $70.39 and its two-hundred day moving average price is $63.59.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The firm 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 company posted $0.36 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that Freshpet will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of Freshpet

Several large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new stake in Freshpet during the 1st quarter valued at about $1,274,000. Andina Capital Management LLC purchased a new stake in Freshpet during the 1st quarter valued at about $377,000. Hsbc Holdings PLC purchased a new stake in Freshpet during the 4th quarter valued at about $757,000. Corient Private Wealth LLC purchased a new stake in Freshpet during the 4th quarter valued at about $227,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 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.