Wall Street Zen Downgrades Freshpet (NASDAQ:FRPT) to Sell

Freshpet (NASDAQ:FRPT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other equities research analysts have also issued reports on the company. 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. Jefferies Financial Group reduced their price objective on Freshpet from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $77.00 price objective on shares of Freshpet in a report on Thursday, May 7th. Stifel Nicolaus set a $66.00 target price on Freshpet in a research report on Thursday, May 7th. Finally, Wells Fargo & Company cut their target price on Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.25.

Freshpet Stock Up 1.6%

Shares of NASDAQ:FRPT opened at $57.54 on Friday. Freshpet has a 52-week low of $46.45 and a 52-week high of $86.00. The firm has a fifty day moving average of $53.72 and a 200 day moving average of $62.60. The firm has a market capitalization of $2.83 billion, a PE ratio of 15.39 and a beta of 1.60. 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 Activity at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total value of $2,056,103.44. Following the completion of the sale, the chief executive officer owned 204,585 shares of the company’s stock, valued at approximately $9,803,713.20. The trade was a 17.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders bought 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Freshpet

A number of large investors have recently bought and sold shares of FRPT. Caitong International Asset Management Co. Ltd lifted its position in Freshpet by 606.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Freshpet in the fourth quarter worth approximately $28,000. Signaturefd LLC grew its holdings 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 during the last quarter. Parallel Advisors LLC increased its stake in shares of Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after buying an additional 197 shares during the period. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Freshpet in the fourth quarter worth $32,000.

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.