Freshpet (NASDAQ:FRPT) Hits New 52-Week High at $144.15

Freshpet, Inc. (NASDAQ:FRPT) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $144.15 and last traded at $144.15, with a volume of 865 shares changing hands. The stock had previously closed at $140.62.

Analysts Set New Price Targets

Several research firms recently issued reports on FRPT. TD Cowen boosted their price target on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler restated an “overweight” rating and issued a $150.00 price target on shares of Freshpet in a research note on Tuesday, July 2nd. Bank of America lifted their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company lifted their price objective on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Oppenheimer lifted their price objective on Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.87.

Freshpet Price Performance

The company has a market cap of $6.84 billion, a price-to-earnings ratio of 781.22 and a beta of 1.39. 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 business has a fifty day moving average price of $129.25 and a 200 day moving average price of $122.75.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. Freshpet’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. As a group, research analysts anticipate that Freshpet, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Johnson Financial Group Inc. bought a new position in shares of Freshpet during the 4th quarter worth approximately $29,000. GAMMA Investing LLC boosted its holdings in Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after acquiring an additional 132 shares in the last quarter. ORG Partners LLC acquired a new stake in Freshpet in the second quarter valued at approximately $32,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Freshpet during the first quarter valued at approximately $36,000. Finally, Quarry LP acquired a new position in shares of Freshpet during the fourth quarter worth approximately $40,000.

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.