Freshpet, Inc. (NASDAQ:FRPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Freshpet, Inc. (NASDAQ:FRPT) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $74.8750.

Several research analysts recently issued reports on FRPT shares. Bank of America reduced their price target on shares of Freshpet from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Wells Fargo & Company reduced their price target on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating and set a $77.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Jefferies Financial Group cut their price target on Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Weiss Ratings lowered Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st.

Insider Activity

In other news, CEO William B. Cyr sold 42,907 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the transaction, the chief executive officer owned 204,585 shares of the company’s stock, valued at $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders acquired 4,211 shares of company stock worth $215,027 and sold 235,262 shares worth $11,664,591. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Freshpet

Several large investors have recently made changes to their positions in FRPT. Royal Bank of Canada lifted its stake in shares of Freshpet by 86.3% during the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after acquiring an additional 31,334 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Freshpet by 734.1% during the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after acquiring an additional 1,593 shares during the period. United Services Automobile Association acquired a new position in shares of Freshpet during the first quarter valued at $247,000. EverSource Wealth Advisors LLC lifted its stake in shares of Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 472 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of Freshpet by 140.3% during the second quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after acquiring an additional 3,676 shares during the period.

Freshpet Stock Up 7.6%

Shares of NASDAQ FRPT opened at $57.43 on Friday. The firm’s 50-day simple moving average is $55.25 and its 200 day simple moving average is $63.55. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 15.36 and a beta of 1.63. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet has a 12-month low of $46.45 and a 12-month high of $86.00.

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.