Wall Street Zen Upgrades Freshpet (NASDAQ:FRPT) to Hold

Freshpet (NASDAQ:FRPT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other analysts have also issued reports on the stock. Wells Fargo & Company cut their target price on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $63.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Bank of America cut their price objective on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Jefferies Financial Group reduced their price objective on Freshpet from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Finally, Stifel Nicolaus set a $66.00 target price on Freshpet in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.

Freshpet Stock Performance

FRPT stock opened at $59.62 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 15.94 and a beta of 1.61. Freshpet has a 1 year low of $46.45 and a 1 year high of $86.00. 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 stock’s fifty day moving average price is $55.00 and its 200-day moving average price is $62.51.

Insider Activity at Freshpet

In related news, Director Craig D. Steeneck acquired 2,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $47.83 per share, with a total value of $95,660.00. Following the acquisition, the director directly owned 37,500 shares in the company, valued at $1,793,625. This represents a 5.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William B. Cyr sold 42,495 shares of Freshpet 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 sale, the chief executive officer owned 224,459 shares in the company, valued at approximately $11,454,142.77. The trade was a 15.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have purchased 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.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently modified their holdings of FRPT. Caitong International Asset Management Co. Ltd grew its stake in Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Motiv8 Investments LLC bought a new stake in Freshpet in the 4th quarter valued at $28,000. Signaturefd LLC lifted its stake in Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Parallel Advisors LLC lifted its stake in Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in Freshpet in the 4th 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.