Analysts Set Freshpet Inc (FRPT) Target Price at $40.00

Freshpet Inc (NASDAQ:FRPT) has been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.00.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 price objective for the company in a research report on Monday, May 6th. BidaskClub raised Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. TheStreet cut Freshpet from a “b” rating to a “c” rating in a research report on Monday, April 1st. Imperial Capital reissued an “in-line” rating and set a $40.00 price objective (up previously from $35.00) on shares of Freshpet in a research report on Monday, March 4th. Finally, Credit Suisse Group set a $36.00 price objective on Freshpet and gave the company a “neutral” rating in a research report on Tuesday, March 5th.

In other Freshpet news, insider Scott James Morris sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $40.00, for a total value of $2,000,000.00. Following the completion of the sale, the insider now owns 181,298 shares of the company’s stock, valued at $7,251,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Associates Spc Midocean sold 4,000,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $38.57, for a total value of $154,280,000.00. The disclosure for this sale can be found here. Insiders sold 4,075,000 shares of company stock valued at $157,280,000 in the last ninety days. Insiders own 5.10% of the company’s stock.

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of Freshpet by 1.3% in the first quarter. AQR Capital Management LLC now owns 19,814 shares of the company’s stock worth $838,000 after buying an additional 259 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Freshpet by 1,008.8% in the first quarter. Advisor Group Inc. now owns 632 shares of the company’s stock worth $26,000 after buying an additional 575 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Freshpet by 7.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 10,874 shares of the company’s stock worth $350,000 after buying an additional 753 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of Freshpet by 4.5% in the fourth quarter. WINTON GROUP Ltd now owns 18,369 shares of the company’s stock worth $591,000 after buying an additional 789 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Freshpet by 14.2% during the 4th quarter. Stephens Inc. AR now owns 7,531 shares of the company’s stock worth $242,000 after purchasing an additional 938 shares during the last quarter. 87.16% of the stock is owned by institutional investors.

FRPT traded down $0.53 during trading on Thursday, reaching $46.50. 117,604 shares of the stock traded hands, compared to its average volume of 259,172. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -310.00 and a beta of 1.34. Freshpet has a fifty-two week low of $21.45 and a fifty-two week high of $48.47. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $54.80 million for the quarter, compared to analyst estimates of $54.28 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. Freshpet’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) EPS. As a group, sell-side analysts forecast that Freshpet will post 0.08 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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