Freshpet (FRPT) Lifted to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Freshpet (NASDAQ:FRPT) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

Several other brokerages have also weighed in on FRPT. Zacks Investment Research raised Freshpet from a sell rating to a hold rating in a report on Wednesday, May 9th. SunTrust Banks reissued a buy rating and issued a $23.00 price objective on shares of Freshpet in a report on Tuesday, March 6th. ValuEngine raised Freshpet from a hold rating to a buy rating in a report on Monday, April 2nd. Credit Suisse Group lifted their price objective on Freshpet from $20.00 to $23.00 and gave the stock a neutral rating in a report on Tuesday. Finally, Susquehanna Bancshares set a $17.00 price objective on Freshpet and gave the stock a hold rating in a report on Tuesday, May 8th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $20.43.

Shares of FRPT opened at $24.90 on Wednesday. Freshpet has a fifty-two week low of $14.10 and a fifty-two week high of $25.25.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, May 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Freshpet had a negative return on equity of 4.35% and a negative net margin of 2.97%. The firm had revenue of $43.20 million during the quarter, compared to analysts’ expectations of $42.06 million. During the same period last year, the business posted ($0.09) EPS. The company’s revenue was up 25.2% compared to the same quarter last year. equities analysts anticipate that Freshpet will post -0.03 EPS for the current fiscal year.

In other Freshpet news, VP Stephen Macchiaverna sold 4,946 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $20.50, for a total value of $101,393.00. Following the completion of the transaction, the vice president now owns 73,884 shares in the company, valued at approximately $1,514,622. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Scott James Morris sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $20.80, for a total value of $208,000.00. Following the completion of the transaction, the chief operating officer now owns 207,798 shares of the company’s stock, valued at approximately $4,322,198.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,474 shares of company stock valued at $1,073,795. 6.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FRPT. Schwab Charles Investment Management Inc. boosted its stake in Freshpet by 11.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 110,861 shares of the company’s stock worth $2,101,000 after purchasing an additional 11,736 shares during the period. California Public Employees Retirement System bought a new position in Freshpet in the 4th quarter worth about $357,000. Bank of New York Mellon Corp boosted its stake in Freshpet by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 639,033 shares of the company’s stock worth $12,109,000 after purchasing an additional 13,274 shares during the period. BlackRock Inc. boosted its stake in Freshpet by 4.9% in the 4th quarter. BlackRock Inc. now owns 1,521,275 shares of the company’s stock worth $28,827,000 after purchasing an additional 71,368 shares during the period. Finally, Virtu Financial LLC bought a new position in Freshpet in the 4th quarter worth about $246,000. Institutional investors and hedge funds own 74.98% of the company’s stock.

About Freshpet

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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