Freshpet (NASDAQ:FRPT) Price Target Raised to $145.00 at Wells Fargo & Company

Freshpet (NASDAQ:FRPT) had its target price lifted by Wells Fargo & Company from $140.00 to $145.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.12% from the company’s previous close.

FRPT has been the subject of a number of other reports. Redburn Atlantic raised shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research report on Thursday, May 23rd. TD Cowen upped their price target on shares of Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $150.00 price objective on shares of Freshpet in a research note on Tuesday, July 2nd. StockNews.com upgraded Freshpet to a “sell” rating in a research note on Saturday, May 4th. Finally, Oppenheimer raised their target price on Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.56.

Freshpet Stock Down 4.3 %

Shares of FRPT traded down $5.63 during trading hours on Wednesday, hitting $123.80. The company had a trading volume of 278,510 shares, compared to its average volume of 599,230. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.00 billion, a PE ratio of 688.76 and a beta of 1.36. Freshpet has a one year low of $54.60 and a one year high of $136.35. The company’s fifty day moving average price is $126.94 and its two-hundred day moving average price is $108.69.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.43. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. The firm had revenue of $223.85 million for the quarter, compared to the consensus estimate of $216.43 million. As a group, equities analysts forecast that Freshpet will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 6,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $132.13, for a total value of $792,780.00. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $11,368,333.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 13,560 shares of company stock valued at $1,701,580. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Thistle LLC purchased a new position in Freshpet during the fourth quarter worth about $1,200,000. Impax Asset Management Group plc purchased a new stake in shares of Freshpet during the 4th quarter valued at approximately $4,338,000. Nicholas Investment Partners LP acquired a new position in Freshpet in the fourth quarter valued at approximately $2,278,000. Trust Point Inc. purchased a new position in Freshpet in the fourth quarter worth approximately $963,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Freshpet by 53.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock worth $16,151,000 after acquiring an additional 48,401 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.