Freshpet (NASDAQ:FRPT) Sets New 52-Week High – Still a Buy?

Freshpet, Inc. (NASDAQ:FRPT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $160.91 and last traded at $158.05, with a volume of 120431 shares traded. The stock had previously closed at $156.76.

Analyst Ratings Changes

A number of research firms have recently commented on FRPT. Oppenheimer upped their price objective on shares of Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. DA Davidson increased their price objective on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Truist Financial boosted their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.80.

Freshpet Stock Performance

The business’s 50-day moving average price is $142.64 and its 200-day moving average price is $133.72. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.51 billion, a PE ratio of 176.14 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. As a group, equities research analysts expect that Freshpet, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. The trade was a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Freshpet

Several hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new stake in Freshpet during the 3rd quarter valued at $29,000. ORG Partners LLC acquired a new stake in shares of Freshpet during the second quarter valued at $32,000. Wilmington Savings Fund Society FSB purchased a new stake in Freshpet during the 3rd quarter worth about $32,000. GAMMA Investing LLC raised its stake in Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing 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.