Freshpet, Inc. (NASDAQ:FRPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been assigned an average rating of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $74.5625.

Several analysts have weighed in on FRPT shares. TD Cowen raised Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, April 8th. Jefferies Financial Group lowered their target price on Freshpet from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised shares of Freshpet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $68.00 in a research note on Thursday, May 7th. Weiss Ratings cut shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Finally, Bank of America dropped their price objective on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday.

Insider Buying and Selling at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total value of $2,056,103.44. Following the completion of the transaction, the chief executive officer owned 204,585 shares in the company, valued at $9,803,713.20. This trade represents a 17.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 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 owned by insiders.

Hedge Funds Weigh In On Freshpet

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Freshpet by 86.3% during the 1st quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock worth $5,624,000 after purchasing an additional 31,334 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after buying an additional 1,593 shares during the last quarter. United Services Automobile Association acquired a new stake in Freshpet during the first quarter worth approximately $247,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in shares of Freshpet by 140.3% during the second quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock worth $428,000 after acquiring an additional 3,676 shares during the period.

Freshpet Price Performance

Shares of FRPT opened at $56.38 on Friday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 15.07 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18. The business’s fifty day moving average price is $54.30 and its two-hundred day moving average price is $63.34. Freshpet has a 52 week low of $46.45 and a 52 week high of $86.00.

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.