Freshpet (NASDAQ:FRPT) Receives “Buy” Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Freshpet (NASDAQ:FRPT) in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a $140.00 price objective on the stock, down from their previous price objective of $170.00.

Other equities analysts also recently issued reports about the company. Citigroup reduced their price target on Freshpet from $155.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. TD Cowen upped their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Benchmark restated a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research note on Friday, November 1st. Finally, Piper Sandler cut their price target 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.47.

Freshpet Trading Up 0.2 %

Shares of NASDAQ FRPT opened at $107.09 on Tuesday. Freshpet has a 1-year low of $97.48 and a 1-year high of $164.07. The business has a fifty day moving average price of $142.61 and a 200 day moving average price of $142.33. The stock has a market capitalization of $5.22 billion, a P/E ratio of 113.93 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. The business had revenue of $262.71 million during the quarter, compared to analyst estimates of $275.46 million. Equities research analysts expect that Freshpet will post 1.55 EPS for the current fiscal year.

Insider Activity

In other news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were 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 owns 122,380 shares of the company’s stock, valued at $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Freshpet by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,652,556 shares of the company’s stock valued at $689,090,000 after purchasing an additional 46,844 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Freshpet by 4.0% during the 4th quarter. WCM Investment Management LLC now owns 2,881,855 shares of the company’s stock valued at $430,809,000 after acquiring an additional 110,478 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Freshpet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 844,744 shares of the company’s stock valued at $127,446,000 after buying an additional 9,081 shares during the period. Driehaus Capital Management LLC grew its position in Freshpet by 5.1% in the fourth quarter. Driehaus Capital Management LLC now owns 810,646 shares of the company’s stock worth $120,065,000 after acquiring an additional 39,129 shares during the period. Finally, Norges Bank purchased a new position in shares of Freshpet during the 4th quarter worth $75,253,000.

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.