Freshpet (NASDAQ:FRPT) Price Target Raised to $170.00 at Robert W. Baird

Freshpet (NASDAQ:FRPT) had its target price lifted by Robert W. Baird from $157.00 to $170.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 12.90% from the stock’s previous close.

Other analysts have also issued reports about the stock. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research note on Friday. Stifel Nicolaus lifted their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Bank of America lifted their price target on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Citigroup increased their price objective on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.73.

Freshpet Stock Performance

Shares of FRPT opened at $150.57 on Tuesday. Freshpet has a 12-month low of $65.81 and a 12-month high of $154.67. The stock has a market capitalization of $7.30 billion, a P/E ratio of 301.15 and a beta of 1.39. The firm’s 50 day moving average is $137.88 and its 200-day moving average is $129.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share 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 during the quarter, compared to analyst estimates of $248.36 million. During the same period last year, the company posted ($0.15) EPS. The company’s revenue was up 26.3% compared to the same quarter last year. Equities research analysts anticipate that Freshpet will post 0.73 EPS for the current fiscal year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet 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 owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Freshpet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entropy Technologies LP grew its holdings in Freshpet by 34.3% during the third quarter. Entropy Technologies LP now owns 4,309 shares of the company’s stock valued at $589,000 after purchasing an additional 1,101 shares during the last quarter. WCM Investment Management LLC boosted its holdings 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. Versor Investments LP acquired a new position in Freshpet in the 3rd quarter valued at $300,000. TimesSquare Capital Management LLC raised its holdings in Freshpet by 38.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 199,592 shares of the company’s stock worth $27,298,000 after acquiring an additional 55,200 shares during the period. Finally, Transcendent Capital Group LLC acquired a new position in Freshpet during the 3rd quarter worth $1,465,000.

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.