Wells Fargo & Company Issues Positive Forecast for Freshpet (NASDAQ:FRPT) Stock Price

Freshpet (NASDAQ:FRPT) had its price objective increased by Wells Fargo & Company from $157.00 to $175.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

FRPT has been the topic of several other reports. Stifel Nicolaus upped their price objective on Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup upped their price target on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

Freshpet Stock Up 0.7 %

FRPT opened at $151.59 on Tuesday. The company has a market capitalization of $7.35 billion, a P/E ratio of 170.33 and a beta of 1.39. 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’s fifty day moving average price is $138.19 and its two-hundred day moving average price is $129.63. Freshpet has a fifty-two week low of $65.81 and a fifty-two week high of $154.80.

Freshpet (NASDAQ:FRPT) last issued 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. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. On average, analysts anticipate that Freshpet will post 0.73 EPS for the current year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the business’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 value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Institutional Trading of Freshpet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its position in shares of 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 buying an additional 2,445,199 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Freshpet during the 1st quarter worth $17,845,000. Driehaus Capital Management LLC grew its holdings 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 bought a new stake in shares of Freshpet during the 2nd quarter valued at $8,892,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Freshpet in the 2nd quarter valued at $8,902,000.

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.