Freshpet (NASDAQ:FRPT) PT Raised to $160.00 at Truist Financial

Freshpet (NASDAQ:FRPT - Free Report) had its price objective lifted by Truist Financial from $135.00 to $160.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Citigroup increased their price target on Freshpet from $124.00 to $129.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 17th. Robert W. Baird raised their target price on Freshpet from $140.00 to $157.00 and gave the company an "outperform" rating in a report on Tuesday, September 3rd. TD Cowen raised their target price on Freshpet from $143.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Wells Fargo & Company raised their target price on Freshpet from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. Finally, Benchmark reaffirmed a "buy" rating and issued a $150.00 target price on shares of Freshpet in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.53.

Freshpet Price Performance

NASDAQ:FRPT traded down $1.99 during trading hours on Wednesday, reaching $142.06. 313,204 shares of the company were exchanged, compared to its average volume of 583,071. The company has a market capitalization of $6.88 billion, a P/E ratio of 789.22 and a beta of 1.39. Freshpet has a 1-year low of $54.60 and a 1-year high of $145.68. 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 business has a 50 day moving average of $136.52 and a 200 day moving average of $126.86.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.06. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm's quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Research analysts forecast that Freshpet will post 0.72 EPS for the current year.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the firm's stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sei Investments Co. raised its position in shares of Freshpet by 4.4% in 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 in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Freshpet in the 1st quarter worth about $811,000. Allspring Global Investments Holdings LLC raised its position in shares of Freshpet by 53.2% in 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of Freshpet in the 2nd quarter worth about $3,964,000. Finally, Duality Advisers LP bought a new position in shares of Freshpet in the 1st quarter worth about $854,000.

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.