Freshpet (NASDAQ:FRPT) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of Freshpet (NASDAQ:FRPT) from a strong-buy rating to a buy rating in a report released on Friday, November 2nd.

Other equities research analysts have also issued reports about the company. Credit Suisse Group upped their price objective on Freshpet from $26.00 to $32.00 and gave the stock a hold rating in a research note on Monday, August 13th. Robert W. Baird increased their price objective on shares of Freshpet from $27.00 to $35.00 and gave the company an outperform rating in a report on Monday, July 30th. Stifel Nicolaus increased their price objective on shares of Freshpet from $27.00 to $33.00 and gave the company a buy rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of Freshpet from a buy rating to a hold rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $29.57.

Shares of NASDAQ FRPT traded down $0.75 during midday trading on Friday, hitting $36.18. 276,176 shares of the stock traded hands, compared to its average volume of 316,282. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -301.50 and a beta of 1.55. Freshpet has a one year low of $15.67 and a one year high of $40.58.

In other news, COO Scott James Morris sold 3,512 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $37.75, for a total transaction of $132,578.00. Following the transaction, the chief operating officer now directly owns 173,672 shares of the company’s stock, valued at $6,556,118. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard A. Kassar sold 20,000 shares of Freshpet stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $33.85, for a total transaction of $677,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 76,096 shares of company stock valued at $2,639,500. 5.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Freshpet by 130.3% during the first quarter. Barclays PLC now owns 9,283 shares of the company’s stock worth $153,000 after buying an additional 5,253 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Freshpet by 132.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 4,654 shares of the company’s stock worth $168,000 after buying an additional 2,654 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Freshpet during the third quarter worth $206,000. Wedge Capital Management L L P NC acquired a new stake in shares of Freshpet during the second quarter worth $217,000. Finally, IFG Advisory LLC acquired a new stake in shares of Freshpet during the third quarter worth $234,000. 72.97% of the stock is currently owned by institutional investors and hedge funds.

Freshpet Company Profile

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.

Featured Article: Earnings Per Share (EPS)

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

Receive News & Ratings for Freshpet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshpet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply