TD Cowen Increases Freshpet (NASDAQ:FRPT) Price Target to $61.00

Freshpet (NASDAQ:FRPT) had its price objective boosted by equities research analysts at TD Cowen from $56.00 to $61.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would suggest a potential downside of 4.78% from the stock’s current price.

Several other equities research analysts have also commented on FRPT. JPMorgan Chase & Co. cut their price objective on Freshpet from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Truist Financial dropped their price target on Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Zacks Research raised Freshpet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Cowen reaffirmed a “hold” rating on shares of Freshpet in a research note on Thursday. Finally, Weiss Ratings raised shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.75.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $64.06 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.61 and a current ratio of 5.52. The firm has a fifty day moving average of $59.50 and a 200 day moving average of $59.84. The firm has a market cap of $3.13 billion, a PE ratio of 27.97, a PEG ratio of 1.51 and a beta of 1.71. Freshpet has a one year low of $46.76 and a one year high of $164.07.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $1.43. The business had revenue of $288.85 million for the quarter, compared to the consensus estimate of $283.73 million. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. As a group, research analysts predict that Freshpet will post 1.55 EPS for the current fiscal year.

Insider Transactions at Freshpet

In other Freshpet news, President Scott James Morris sold 5,142 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the sale, the president directly owned 30,858 shares of the company’s stock, valued at $1,923,379.14. This trade represents a 14.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freshpet

Several hedge funds and other institutional investors have recently bought and sold shares of FRPT. Parallel Advisors LLC raised its stake in Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Freshpet by 445.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock worth $32,000 after buying an additional 432 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 472 shares during the period. State of Wyoming acquired a new position in Freshpet in the second quarter valued at approximately $34,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Freshpet in the second quarter valued at approximately $35,000.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.