Analysts Set Freshpet Inc (NASDAQ:FRPT) Price Target at $42.33

Freshpet Inc (NASDAQ:FRPT) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.00.

Several research firms have commented on FRPT. SunTrust Banks cut shares of Freshpet from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Tuesday, June 18th. They noted that the move was a valuation call. BidaskClub upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. began coverage on shares of Freshpet in a report on Tuesday, July 30th. They set a “neutral” rating and a $46.00 price target for the company. DA Davidson began coverage on shares of Freshpet in a report on Wednesday, June 19th. They set a “buy” rating and a $60.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday.

In other news, EVP Stephen Weise sold 5,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. Following the completion of the transaction, the executive vice president now owns 5,000 shares in the company, valued at approximately $237,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen Macchiaverna sold 10,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $47.05, for a total transaction of $470,500.00. Following the completion of the sale, the vice president now directly owns 82,938 shares in the company, valued at $3,902,232.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,104 shares of company stock valued at $8,335,030. 5.10% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in Freshpet by 749.2% during the 1st quarter. FMR LLC now owns 2,538,489 shares of the company’s stock worth $107,353,000 after purchasing an additional 2,239,553 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Freshpet by 1.5% in the 1st quarter. JPMorgan Chase & Co. now owns 993,411 shares of the company’s stock valued at $42,012,000 after buying an additional 14,796 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Freshpet by 5.0% in the 1st quarter. Victory Capital Management Inc. now owns 925,062 shares of the company’s stock valued at $39,121,000 after buying an additional 43,950 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Freshpet by 2.2% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 797,333 shares of the company’s stock valued at $36,287,000 after buying an additional 16,936 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Freshpet by 11.2% in the 1st quarter. Wasatch Advisors Inc. now owns 649,955 shares of the company’s stock valued at $27,487,000 after buying an additional 65,505 shares in the last quarter. 86.08% of the stock is currently owned by institutional investors.

Shares of NASDAQ FRPT traded down $0.77 during trading on Tuesday, hitting $44.67. The company had a trading volume of 280,620 shares, compared to its average volume of 305,343. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -297.80 and a beta of 1.11. Freshpet has a fifty-two week low of $28.44 and a fifty-two week high of $51.85. The firm’s fifty day simple moving average is $45.67. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results 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). Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The company had revenue of $54.80 million during the quarter, compared to analysts’ expectations of $54.28 million. During the same period last year, the firm posted ($0.10) earnings per share. Freshpet’s revenue was up 26.9% on a year-over-year basis. Sell-side analysts predict that Freshpet will post 0.06 EPS for the current 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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