Freshpet (NASDAQ:FRPT) Rating Increased to Strong-Buy at DA Davidson

Freshpet (NASDAQ:FRPT) was upgraded by equities research analysts at DA Davidson to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $77.00 price objective on shares of Freshpet in a report on Thursday, May 7th. Oppenheimer raised Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Friday, March 20th. Wells Fargo & Company reduced their target price on Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group lowered their price target on Freshpet from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Finally, Piper Sandler restated an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th. One investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.56.

Freshpet Trading Up 2.4%

Freshpet stock traded up $1.31 during trading on Monday, hitting $55.40. The company’s stock had a trading volume of 73,641 shares, compared to its average volume of 1,541,351. The stock’s fifty day moving average is $54.07 and its 200 day moving average is $63.27. Freshpet has a 1-year low of $46.45 and a 1-year high of $86.00. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 14.83 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 Buying and Selling at Freshpet

In other news, CEO William B. Cyr sold 42,495 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $51.03, for a total value of $2,168,519.85. Following the transaction, the chief executive officer owned 224,459 shares of the company’s stock, valued at approximately $11,454,142.77. This trade represents a 15.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig D. Steeneck bought 2,000 shares of Freshpet stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $47.83 per share, for a total transaction of $95,660.00. Following the acquisition, the director directly owned 37,500 shares in the company, valued at approximately $1,793,625. This represents a 5.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FRPT. Optimize Financial Inc boosted its position in shares of Freshpet by 1.4% in the fourth quarter. Optimize Financial Inc now owns 10,957 shares of the company’s stock worth $668,000 after buying an additional 156 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Freshpet by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock worth $680,000 after acquiring an additional 161 shares in the last quarter. Parallel Advisors LLC lifted its position in Freshpet by 55.0% during the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after acquiring an additional 197 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Freshpet by 32.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 882 shares of the company’s stock worth $53,000 after acquiring an additional 214 shares during the period. Finally, Ossiam boosted its holdings in Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after acquiring an additional 228 shares during the period.

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.