Truist Financial Raises Freshpet (NASDAQ:FRPT) Price Target to $160.00

Freshpet (NASDAQ:FRPT) had its price objective increased by research analysts at Truist Financial from $135.00 to $160.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 12.53% from the company’s previous close.

FRPT has been the subject of a number of other research reports. Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of Freshpet in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. TD Cowen increased their price objective on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Oppenheimer boosted their target price on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Finally, Robert W. Baird increased their price target on shares of Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.53.

Freshpet Stock Down 1.3 %

FRPT stock traded down $1.86 during mid-day trading on Wednesday, hitting $142.19. 52,879 shares of the company were exchanged, compared to its average volume of 581,769. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. Freshpet has a 1-year low of $54.60 and a 1-year high of $145.68. The firm’s 50 day simple moving average is $136.18 and its 200 day simple moving average is $126.66. The firm has a market cap of $6.89 billion, a P/E ratio of 790.72 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.06. The business had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) EPS. On average, sell-side analysts predict that Freshpet will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Freshpet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Wealth Partners LLC purchased a new position in shares of Freshpet in the third quarter worth $29,000. CWM LLC boosted its holdings in shares of Freshpet by 828.4% during the third quarter. CWM LLC now owns 4,605 shares of the company’s stock worth $630,000 after purchasing an additional 4,109 shares during the period. GAMMA Investing LLC increased its holdings in Freshpet by 29.6% during the 3rd quarter. GAMMA Investing LLC now owns 481 shares of the company’s stock valued at $66,000 after purchasing an additional 110 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Freshpet during the 2nd quarter valued at approximately $52,000. Finally, Quarry LP lifted its holdings in Freshpet by 275.2% in the 2nd quarter. Quarry LP now owns 439 shares of the company’s stock worth $57,000 after buying an additional 322 shares during the period.

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.