JPMorgan Chase & Co. Issues Positive Forecast for Freshpet (NASDAQ:FRPT) Stock Price

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

Other equities analysts have also issued reports about the stock. Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a report on Friday, November 1st. Robert W. Baird raised their price target on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America raised their target price on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Citigroup boosted their price target on shares of Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.47.

Freshpet Stock Performance

Shares of Freshpet stock opened at $151.59 on Tuesday. The business’s 50 day moving average price is $138.19 and its 200 day moving average price is $129.63. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 170.33 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. Freshpet has a one year low of $65.81 and a one year high of $154.80.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. On average, research analysts predict that Freshpet will post 0.73 EPS for the current year.

Insider Buying and Selling at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Freshpet

Several large investors have recently modified their holdings of the company. WCM Investment Management LLC boosted its stake in Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Freshpet during the 1st quarter valued at approximately $17,845,000. Driehaus Capital Management LLC lifted its position in Freshpet by 24.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock worth $93,327,000 after acquiring an additional 141,615 shares during the period. M&G Plc purchased a new position in shares of Freshpet in the 2nd quarter valued at approximately $8,892,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Freshpet during the second quarter worth approximately $8,902,000.

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.