Wells Fargo & Company Boosts Freshpet (NASDAQ:FRPT) Price Target to $175.00

Freshpet (NASDAQ:FRPT) had its target price upped by analysts at Wells Fargo & Company from $157.00 to $175.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 14.70% from the company’s previous close.

FRPT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird increased their price target on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday. Stifel Nicolaus lifted their price objective on shares of Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America increased their target price on shares of Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.27.

Freshpet Trading Up 1.3 %

FRPT traded up $2.00 during trading on Tuesday, reaching $152.57. 96,258 shares of the company’s stock were exchanged, compared to its average volume of 579,191. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. Freshpet has a one year low of $65.81 and a one year high of $154.80. The firm has a fifty day moving average price of $137.88 and a two-hundred day moving average price of $129.30. The stock has a market capitalization of $7.40 billion, a PE ratio of 172.13 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last issued 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. The company had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. Freshpet’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. As a group, equities research analysts forecast that Freshpet will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet 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 transaction of $304,941.78. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Freshpet by 41.1% during the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after buying an additional 108 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Freshpet by 13.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock valued at $169,000 after acquiring an additional 159 shares in the last quarter. Amalgamated Bank increased its position in shares of Freshpet by 6.7% during the second quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock valued at $355,000 after acquiring an additional 171 shares during the last quarter. CWM LLC lifted its holdings in Freshpet by 65.9% during the second quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after acquiring an additional 197 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in Freshpet in the third quarter worth $29,000.

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.