Freshpet, Inc. (NASDAQ:FRPT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Freshpet, Inc. (NASDAQ:FRPT) have been given an average rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $74.25.

A number of brokerages recently commented on FRPT. DA Davidson raised shares of Freshpet to a “strong-buy” rating in a research note on Monday, July 6th. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a research report on Monday, June 15th. Bank of America dropped their price target on Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $63.00 price objective on shares of Freshpet in a report on Thursday, May 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $77.00 price objective on shares of Freshpet in a research note on Thursday, May 7th.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $57.71 on Thursday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 15.43 and a beta of 1.60. Freshpet has a one year low of $46.45 and a one year high of $86.00. The company has a 50-day simple moving average of $53.41 and a 200-day simple moving average of $62.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18.

Insider Buying and Selling at Freshpet

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

Institutional Investors Weigh In On Freshpet

Several hedge funds and other institutional investors have recently bought and sold shares of FRPT. Vanguard Group Inc. raised its holdings in Freshpet by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock valued at $321,822,000 after acquiring an additional 128,499 shares in the last quarter. Wasatch Advisors LP lifted its stake in Freshpet by 5.2% in the first quarter. Wasatch Advisors LP now owns 4,141,437 shares of the company’s stock valued at $244,179,000 after buying an additional 204,128 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Freshpet by 30.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after purchasing an additional 461,444 shares during the period. Capital World Investors grew its holdings in Freshpet by 7.1% in the 4th quarter. Capital World Investors now owns 1,587,691 shares of the company’s stock worth $96,738,000 after buying an additional 104,913 shares in the last quarter. Finally, Armistice Capital LLC grew its stake in shares of Freshpet by 5.0% in the fourth quarter. Armistice Capital LLC now owns 1,296,000 shares of the company’s stock worth $78,965,000 after purchasing an additional 61,198 shares in the last quarter.

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.