Freshpet, Inc. (NASDAQ:FRPT) Receives an Average “Buy” Rating from Brokerages

Freshpet, Inc. (NASDAQ:FRPT) received an average “Buy” recommendation from the fifteen rating agencies that currently cover the company, MarketBeat Ratings reports. Two equity research analysts gave the stock a sell rating, two gave the company a hold rating and nine gave the company a buy rating. The 12-month average price target among analysts who have rated the stock over the past year is $156.69.

A number of equity research analysts have recently commented on FRPT stocks. TheStreet upgraded Freshpet from a “c-” to a “d+” rating in a research note on Tuesday, December 21. Credit Suisse Group cut its price target on Freshpet from $170.00 to $106.00 and set a “neutral” rating for the company in a Monday, Dec. 20 report. Robert W. Baird lowered his price target on Freshpet from $185.00 to $150.00 and set an “outperform” rating for the company in a Monday, Dec. 20 research report. Truist Securities upgraded Freshpet from a “hold” rating to a “buy” rating and set a price target of $175.00 for the company in a Wednesday, October 13 research report. Finally, Citigroup reduced its price target on Freshpet from $120.00 to $80.00 and set a “sell” rating for the company in a report released on Monday, December 20.

Separately, director Charles A. Norris acquired 5,000 shares of the company in a transaction that took place on Monday, November 29. The shares were purchased at an average cost of $110.03 per share, for a total transaction of $550,150.00. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, CEO William B. Cyr acquired 1,819 shares of the company in a transaction that took place on Friday, November 26. The shares were purchased at an average price of $109.91 per share, with a total value of $199,926.29. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 7,819 shares of the company worth $858,036. Company insiders own 5.80% of the company’s shares.

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Several institutional investors have recently changed their stock portfolios. Baillie Gifford & Co. increased its stake in Freshpet by 75.0% in the third quarter. Baillie Gifford & Co. now owns 196 shares of the company worth $28,000 after acquiring 84 additional shares during the period. Private Advisor Group LLC increased its stake in Freshpet shares by 2.2% during Q2. Private Advisor Group LLC now owns 5,274 shares of the company valued at $859,000 after purchasing an additional 113 shares during the period. Stephens Inc. AR increased its stake in Freshpet shares by 3.9% during Q3. Stephens Inc. AR now owns 4,078 shares of the company valued at $582,000 after purchasing an additional 154 shares during the period. PNC Financial Services Group Inc. increased its position in Freshpet by 9.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,086 shares of the company worth $297,000 after purchasing an additional 179 shares during the period. Finally, HighTower Advisors LLC strengthened its position in Freshpet by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 3,196 shares of the company worth $456,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 95.92% of the company’s shares.

FRPT stock opened at $91.23 on Friday. The company has a 50-day moving average price of $104.28 and a 200-day moving average price of $130.84. The stock has a market capitalization of $3.96 billion, a P/E ratio of -162.91 and a beta of 0.63. Freshpet has a 12 month minimum of $80.08 and a 12 month maximum of $186.98.

Freshpet Inc (NASDAQ:FRPT) last reported quarterly earnings data on Monday, November 8. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.07 per ($0.12). Freshpet had a negative return on equity of 3.71% and a negative net margin of 6.02%. The company posted revenue of $107.59 million for the quarter, versus analyst estimates of $114.31 million. During the same period last year, the company achieved EPS of $0.09. The company’s quarterly revenue increased by 27.8% compared to the same quarter last year. Sell-side analysts expect Freshpet to post -0.6 EPS for the current fiscal year.

About Freshpet

Freshpet, Inc engages in the manufacturing, marketing and distribution of pet food and treats for dogs and cats. Its products are sold throughout the United States and Canada under the Freshpet Select, Vital and Nature’s Fresh brands. Its products include a grain-free fresh chicken recipe for dogs; Dog Joy turkey and apple treats for dogs; Nature’s Fresh Grain Free Chicken Recipe for Cats; and a vital grain-free chicken and whitefish recipe for cats.

See also: Investing in growth stocks

Analyst Recommendations for Freshpet (NASDAQ: FRPT)

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