JPMorgan Chase & Co. Boosts Freshpet (NASDAQ:FRPT) Price Target to $154.00

Freshpet (NASDAQ:FRPT) had its price objective lifted by JPMorgan Chase & Co. from $126.00 to $154.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

FRPT has been the topic of a number of other reports. TD Cowen boosted their price objective on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup raised their price objective on shares of Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Bank of America upped their target price on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Truist Financial increased their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and an average target price of $156.13.

Freshpet Stock Performance

NASDAQ FRPT opened at $153.22 on Tuesday. The company’s fifty day moving average is $138.96 and its two-hundred day moving average is $129.97. Freshpet has a 52-week low of $65.81 and a 52-week high of $157.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 172.16 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The business had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue was up 26.3% on a year-over-year basis. Equities research analysts forecast that Freshpet will post 0.73 EPS for the current year.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Freshpet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in Freshpet in the third quarter valued at about $29,000. ORG Partners LLC acquired a new stake in shares of Freshpet during the 2nd quarter worth approximately $32,000. Whittier Trust Co. bought a new stake in shares of Freshpet during the first quarter worth approximately $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 valued at $48,000 after buying an additional 108 shares during the period. 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 last quarter.

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.