Freshpet (NASDAQ:FRPT) Trading Up 3.1% – Time to Buy?

Freshpet, Inc. (NASDAQ:FRPT)’s stock price was up 3.1% on Thursday . The stock traded as high as $111.62 and last traded at $110.23. Approximately 241,628 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,016,800 shares. The stock had previously closed at $106.88.

Wall Street Analysts Forecast Growth

FRPT has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. DA Davidson upped their target price on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Benchmark restated a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Piper Sandler cut their target price on Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.47.

Freshpet Stock Up 0.2 %

The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 113.93 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The firm has a 50-day moving average price of $143.30 and a two-hundred day moving average price of $142.58.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm had revenue of $262.71 million during the quarter, compared to the consensus estimate of $275.46 million. On average, sell-side analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total transaction of $786,900.00. Following the completion of the sale, the president now directly owns 122,380 shares in the company, valued at $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FRPT. Blue Trust Inc. increased its stake in shares of Freshpet by 2,770.4% in the third quarter. Blue Trust Inc. now owns 775 shares of the company’s stock worth $100,000 after buying an additional 748 shares during the last quarter. Private Advisor Group LLC grew its position in Freshpet by 29.7% in the 3rd quarter. Private Advisor Group LLC now owns 2,316 shares of the company’s stock valued at $317,000 after buying an additional 531 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Freshpet during the third quarter valued at approximately $795,000. Pallas Capital Advisors LLC acquired a new stake in shares of Freshpet in the third quarter valued at $265,000. Finally, Farther Finance Advisors LLC grew its holdings in Freshpet by 12.7% during the third quarter. Farther Finance Advisors LLC now owns 2,277 shares of the company’s stock worth $311,000 after acquiring an additional 257 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.