Freshpet, Inc. (NASDAQ:FRPT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $74.8750.

A number of research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $77.00 target price on shares of Freshpet in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $63.00 target price on shares of Freshpet in a report on Thursday, May 7th. DA Davidson upped their target price on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 13th. Finally, Oppenheimer raised shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Friday, March 20th.

Freshpet Stock Up 0.9%

Shares of Freshpet stock opened at $49.86 on Wednesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 13.33 and a beta of 1.63. The company’s 50 day moving average is $58.85 and its 200 day moving average is $64.04. Freshpet has a twelve month low of $46.45 and a twelve month high of $86.00. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling

In other Freshpet news, CEO William B. Cyr sold 42,495 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the completion of the sale, the chief executive officer directly owned 224,459 shares of the company’s stock, valued at approximately $11,454,142.77. This represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig D. Steeneck bought 2,000 shares of Freshpet stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $47.83 per share, with a total value of $95,660.00. Following the completion of the acquisition, the director owned 37,500 shares of the company’s stock, valued at $1,793,625. The trade was a 5.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Freshpet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after buying an additional 358 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Freshpet in the fourth quarter worth $28,000. State of Wyoming purchased a new stake in shares of Freshpet in the second quarter worth $34,000. Signaturefd LLC increased its stake in shares of Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares in the last quarter.

Freshpet Company Profile

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.