Freshpet, Inc. (FRPT) Given New $20.00 Price Target at SunTrust Banks, Inc.
Freshpet, Inc. (NASDAQ:FRPT) had its price target increased by equities researchers at SunTrust Banks, Inc. from $15.00 to $20.00 in a research report issued on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 24.61% from the company’s previous close.
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Freshpet from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research upgraded Freshpet from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price (up from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Imperial Capital began coverage on Freshpet in a research note on Thursday, July 20th. They issued an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their target price on Freshpet from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, June 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.69.
Shares of Freshpet (NASDAQ FRPT) opened at 16.05 on Tuesday. The firm’s 50-day moving average price is $16.45 and its 200 day moving average price is $13.13. The stock’s market capitalization is $510.39 million. Freshpet has a 1-year low of $7.60 and a 1-year high of $18.25.
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In other Freshpet news, CEO William B. Cyr acquired 7,300 shares of Freshpet stock in a transaction dated Thursday, May 18th. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $100,375.00. Following the completion of the transaction, the chief executive officer now owns 75,532 shares in the company, valued at approximately $1,038,565. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard A. Kassar sold 15,125 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.26, for a total value of $230,807.50. Following the transaction, the chief financial officer now owns 215,119 shares of the company’s stock, valued at $3,282,715.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,125 shares of company stock valued at $526,758. Insiders own 8.20% of the company’s stock.
Several institutional investors have recently modified their holdings of FRPT. Goldman Sachs Group Inc. bought a new position in shares of Freshpet during the first quarter worth approximately $122,000. Bank of Montreal Can increased its position in shares of Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after buying an additional 103 shares during the last quarter. Wrapmanager Inc. increased its position in shares of Freshpet by 21.1% in the first quarter. Wrapmanager Inc. now owns 17,209 shares of the company’s stock worth $126,000 after buying an additional 3,000 shares during the last quarter. American International Group Inc. increased its position in shares of Freshpet by 7.1% in the first quarter. American International Group Inc. now owns 13,762 shares of the company’s stock worth $151,000 after buying an additional 917 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Freshpet during the first quarter worth approximately $155,000. Institutional investors and hedge funds own 65.49% of the company’s stock.
Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company’s products consist of dog food, cat food, and dog and cat treats.
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