Freshpet (NASDAQ:FRPT) Stock Price Expected to Rise, Truist Financial Analyst Says

Freshpet (NASDAQ:FRPT) had its price objective lifted by Truist Financial from $160.00 to $170.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 11.42% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on shares of Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird boosted their price objective on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a report on Friday. Finally, Wells Fargo & Company upped their target price on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.27.

Freshpet Stock Up 1.3 %

NASDAQ FRPT traded up $2.00 during mid-day trading on Tuesday, reaching $152.57. 96,258 shares of the company’s stock traded hands, compared to its average volume of 579,191. Freshpet has a 1-year low of $65.81 and a 1-year high of $154.80. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 172.13 and a beta of 1.39. The company has a fifty day simple moving average of $137.88 and a 200-day simple moving average of $129.30.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The firm had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share. As a group, equities research analysts expect that Freshpet will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Freshpet

A number of large investors have recently added to or reduced their stakes in FRPT. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet during the 3rd quarter valued at $29,000. ORG Partners LLC purchased a new stake in shares of Freshpet during the second quarter valued at $32,000. Whittier Trust Co. acquired a new position in shares of Freshpet in the 1st quarter valued at $41,000. GAMMA Investing LLC increased its stake in Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after buying an additional 367 shares during the period.

About Freshpet

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.