Freshpet, Inc. (NASDAQ:FRPT) Receives $74.88 Average Price Target from Analysts

Shares of Freshpet, Inc. (NASDAQ:FRPT) have earned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $74.5625.

Several research analysts recently issued reports on FRPT shares. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Friday, March 20th. Weiss Ratings lowered Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a report on Monday, June 15th. TD Cowen upgraded Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Wednesday, April 8th. Finally, DA Davidson increased their price objective on Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 13th.

Insider Activity at Freshpet

In other Freshpet news, Director Craig D. Steeneck purchased 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, for a total transaction of $95,660.00. Following the completion of the transaction, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,793,625. The trade was a 5.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William B. Cyr sold 42,495 shares of the 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 transaction, the chief executive officer owned 224,459 shares in the company, valued at $11,454,142.77. The trade was a 15.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders acquired 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.

Hedge Funds Weigh In On Freshpet

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in 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 buying an additional 31,334 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Freshpet by 734.1% in the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after buying an additional 1,593 shares during the period. United Services Automobile Association purchased a new position in shares of Freshpet in the first quarter worth about $247,000. EverSource Wealth Advisors LLC lifted its stake in shares of Freshpet by 1,388.2% in the 2nd 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 last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Freshpet by 140.3% in the 2nd 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 last quarter.

Freshpet Trading Up 0.7%

Shares of Freshpet stock opened at $56.38 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00. The firm has a market cap of $2.77 billion, a PE ratio of 15.07 and a beta of 1.60. The company has a 50 day simple moving average of $54.50 and a two-hundred day simple moving average of $63.39.

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.