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

Freshpet, Inc. (NASDAQ:FRPT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company 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.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FRPT. Bank of America lifted 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. Robert W. Baird boosted their price objective on shares of Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer boosted their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a research 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 given a buy rating to the company. Based on data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $142.87.

Freshpet Stock Up 0.4 %

The firm’s 50-day simple moving average is $129.25 and its 200 day simple moving average is $122.75. 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 stock has a market capitalization of $6.84 billion, a P/E ratio of 781.22 and a beta of 1.39.

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

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $12,046,320.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC bought a new position in shares of Freshpet during the 1st quarter worth approximately $811,000. Sei Investments Co. boosted its stake in shares of Freshpet by 4.4% during the 1st quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock worth $28,852,000 after acquiring an additional 10,456 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Freshpet by 53.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock worth $16,151,000 after acquiring an additional 48,401 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Freshpet by 74.8% during the 4th quarter. Alberta Investment Management Corp now owns 20,772 shares of the company’s stock worth $1,802,000 after acquiring an additional 8,889 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in shares of Freshpet during the 4th quarter worth approximately $29,000.

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.