TD Cowen Boosts Freshpet (NASDAQ:FRPT) Price Target to $174.00

Freshpet (NASDAQ:FRPT) had its price target boosted by research analysts at TD Cowen from $160.00 to $174.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 12.07% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Truist Financial boosted their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their price target on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Stifel Nicolaus upped their target price on shares of Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.13.

Freshpet Stock Up 2.4 %

FRPT opened at $155.27 on Tuesday. Freshpet has a 1 year low of $65.81 and a 1 year high of $157.10. The firm has a 50 day moving average price of $138.60 and a 200 day moving average price of $129.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. The company has a market cap of $7.53 billion, a PE ratio of 174.46 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Sell-side analysts expect that Freshpet will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet during the third quarter worth $29,000. ORG Partners LLC acquired a new stake in Freshpet during the second quarter worth about $32,000. Whittier Trust Co. acquired a new stake in Freshpet during the first quarter worth about $41,000. GAMMA Investing LLC lifted its holdings in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after acquiring an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after acquiring an additional 367 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.