Freshpet (NASDAQ:FRPT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other research firms have also weighed in on FRPT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $63.00 target price on shares of Freshpet in a research note on Thursday, May 7th. Wells Fargo & Company decreased their price target on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group lowered their price target on shares of Freshpet from $75.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. DA Davidson raised shares of Freshpet to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Bank of America reduced their price objective on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.25.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $59.50 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. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 15.91 and a beta of 1.60. The stock’s 50-day moving average is $53.94 and its two-hundred day moving average is $62.60. Freshpet has a 1-year low of $46.45 and a 1-year high of $86.00.

Insider Activity

In related news, CEO William B. Cyr sold 42,495 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $51.03, for a total value of $2,168,519.85. Following the completion of the transaction, the chief executive officer directly owned 224,459 shares of the company’s stock, valued at $11,454,142.77. This represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig D. Steeneck purchased 2,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $47.83 per share, for a total transaction of $95,660.00. Following the completion of the purchase, the director directly owned 37,500 shares of the company’s stock, valued at $1,793,625. The trade was a 5.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Freshpet

Several institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP boosted its holdings in shares of Freshpet by 41.0% in the 2nd quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock valued at $260,921,000 after buying an additional 1,116,217 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Freshpet by 1,031.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company’s stock worth $56,781,000 after acquiring an additional 1,031,905 shares in the last quarter. Armistice Capital LLC lifted its position in Freshpet by 118.4% in the third quarter. Armistice Capital LLC now owns 1,234,802 shares of the company’s stock valued at $68,050,000 after acquiring an additional 669,399 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in Freshpet by 122.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company’s stock valued at $72,953,000 after acquiring an additional 658,114 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Freshpet by 278.5% in the second quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock valued at $58,444,000 after acquiring an additional 632,756 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.