Freshpet (NASDAQ:FRPT) Rating Increased to Strong-Buy at DA Davidson

DA Davidson upgraded shares of Freshpet (NASDAQ:FRPTFree Report) to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently commented on FRPT. Benchmark raised their price objective on shares of Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $63.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Oppenheimer raised Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Friday, March 20th. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a research report on Monday, June 15th. Finally, Weiss Ratings lowered shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.56.

Read Our Latest Stock Report on Freshpet

Freshpet Stock Performance

Shares of FRPT stock traded up $1.20 during mid-day trading on Monday, hitting $55.28. The stock had a trading volume of 82,707 shares, compared to its average volume of 1,541,351. The firm has a market cap of $2.72 billion, a PE ratio of 14.82 and a beta of 1.60. The company’s 50-day simple moving average is $54.07 and its 200-day simple moving average is $63.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. Freshpet has a fifty-two week low of $46.45 and a fifty-two week high of $86.00.

Insider Buying and Selling at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of Freshpet stock in a transaction 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 transaction, the chief executive officer owned 204,585 shares of the company’s stock, valued at $9,803,713.20. The trade was a 17.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders acquired 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently added to or reduced their stakes in FRPT. JANA Partners Management LP increased its stake in shares of Freshpet by 4.1% during the 3rd quarter. JANA Partners Management LP now owns 1,048,136 shares of the company’s stock worth $57,763,000 after purchasing an additional 41,373 shares in the last quarter. Vanguard Group Inc. increased its position in Freshpet by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock worth $321,822,000 after buying an additional 128,499 shares in the last quarter. William Blair Investment Management LLC increased its position in Freshpet by 30.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock worth $118,982,000 after buying an additional 461,444 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Freshpet by 100.0% in the fourth quarter. Impax Asset Management Group plc now owns 140,000 shares of the company’s stock worth $8,530,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Fortis Group Advisors LLC acquired a new position in shares of Freshpet in the fourth quarter worth $1,722,000.

Freshpet Company Profile

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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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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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