Stifel Nicolaus Increases Freshpet (NASDAQ:FRPT) Price Target to $195.00

Freshpet (NASDAQ:FRPT) had its price objective hoisted by stock analysts at Stifel Nicolaus from $170.00 to $195.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 14.79% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Stephens assumed coverage on Freshpet in a research report on Tuesday, January 19th. They issued an “overweight” rating and a $180.00 target price on the stock. Citigroup upped their price objective on Freshpet from $100.00 to $123.00 and gave the company a “sell” rating in a research note on Wednesday, March 3rd. Truist lifted their target price on Freshpet from $150.00 to $175.00 in a research note on Tuesday, May 4th. Zacks Investment Research raised Freshpet from a “sell” rating to a “hold” rating in a report on Wednesday, May 5th. Finally, Credit Suisse Group increased their price target on Freshpet from $115.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, March 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Freshpet has an average rating of “Buy” and an average price target of $159.56.

NASDAQ:FRPT opened at $169.87 on Monday. The stock’s 50-day simple moving average is $168.03 and its 200 day simple moving average is $148.74. The company has a market cap of $7.35 billion, a P/E ratio of 1,544.41, a P/E/G ratio of 5.40 and a beta of 0.85. Freshpet has a 52-week low of $68.07 and a 52-week high of $186.98.

Freshpet (NASDAQ:FRPT) last released its earnings results on Sunday, May 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.24). The company had revenue of $93.41 million during the quarter, compared to analyst estimates of $94.89 million. Freshpet had a net margin of 1.60% and a return on equity of 1.49%. Freshpet’s revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. Research analysts anticipate that Freshpet will post 0.11 EPS for the current year.

In other news, EVP Stephen Macchiaverna sold 2,466 shares of Freshpet stock in a transaction on Monday, March 15th. The stock was sold at an average price of $155.23, for a total transaction of $382,797.18. Following the completion of the sale, the executive vice president now owns 84,343 shares of the company’s stock, valued at $13,092,563.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott James Morris sold 1,997 shares of Freshpet stock in a transaction on Monday, May 10th. The stock was sold at an average price of $173.74, for a total value of $346,958.78. Following the sale, the chief operating officer now directly owns 151,174 shares of the company’s stock, valued at approximately $26,264,970.76. The disclosure for this sale can be found here. Insiders have sold 11,295 shares of company stock valued at $1,934,094 in the last three months. Insiders own 4.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp raised its stake in Freshpet by 6.8% in the fourth quarter. Truist Financial Corp now owns 29,887 shares of the company’s stock valued at $4,243,000 after purchasing an additional 1,895 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Freshpet by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 263,974 shares of the company’s stock valued at $37,482,000 after purchasing an additional 3,113 shares in the last quarter. Delta Investment Management LLC acquired a new position in Freshpet in the fourth quarter valued at about $2,066,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Freshpet in the fourth quarter valued at about $3,237,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Freshpet by 111.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,130 shares of the company’s stock valued at $1,012,000 after acquiring an additional 3,754 shares during the last quarter. 93.96% of the stock is owned by institutional investors.

About Freshpet

Freshpet, Inc manufactures and markets natural fresh 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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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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