Freshpet (NASDAQ:FRPT) Stock Gets Price Target Cut from TD Cowen

Freshpet (NASDAQ:FRPT) had its target price reduced by TD Cowen from $85.00 to $80.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of Freshpet from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Needham & Company LLC began coverage on shares of Freshpet in a report on Thursday, October 1st. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Freshpet from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. DA Davidson reduced their price target on shares of Freshpet from $101.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Wells Fargo & Company reduced their price target on shares of Freshpet from $82.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.44.

Freshpet Stock Down 0.7%

FRPT opened at $67.65 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 6.05. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 17.80 and a beta of 1.78. Freshpet has a one year low of $46.45 and a one year high of $86.00. The business’s fifty day moving average is $66.59 and its two-hundred day moving average is $60.58.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. The business had revenue of $305.59 million during the quarter, compared to analysts’ expectations of $292.35 million. Freshpet had a return on equity of 5.97% and a net margin of 17.28%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. Analysts anticipate that Freshpet will post 1.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, Director Walter N. George bought 1,000 shares of Freshpet stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $64.92 per share, for a total transaction of $64,920.00. Following the completion of the transaction, the director owned 51,746 shares of the company’s stock, valued at $3,359,350.32. This represents a 1.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William B. Cyr sold 2,657 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $75.40, for a total value of $200,337.80. Following the transaction, the chief executive officer owned 49,044 shares in the company, valued at $3,697,917.60. This trade represents a 5.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 171,636 shares of company stock valued at $12,754,864. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Freshpet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after acquiring an additional 358 shares during the period. Global Retirement Partners LLC purchased a new stake in Freshpet in the second quarter valued at approximately $25,000. Integrated Wealth Concepts LLC purchased a new stake in Freshpet in the second quarter valued at approximately $34,000. State of Wyoming purchased a new stake in Freshpet in the second quarter valued at approximately $61,000. Finally, Versant Capital Management Inc increased its position in Freshpet by 254.8% during the second quarter. Versant Capital Management Inc now owns 1,689 shares of the company’s stock worth $100,000 after purchasing an additional 1,213 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc (NASDAQ: FRPT) is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with ingredients such as meat, poultry, fish, vegetables and other components, and are kept refrigerated throughout distribution and retail.

The company sells fresh meals, rolls, treats and other pet nutrition products under the Freshpet brand and related product lines. Its offerings are marketed through grocery stores, mass merchants, club stores, pet specialty retailers, e-commerce platforms and other retail channels.

Freshpet was founded in 2006 and is based in Secaucus, New Jersey.