Oppenheimer analyst Rupesh Parikh maintained a Hold rating on Freshpet (FRPT) today. The company’s shares closed yesterday at $35.50.
Parikh said:
“In late December, we spent time visiting multiple Coles and Woolworths grocery stores in to assess the development of the fresh pet food category vs. the US market. We overall found what appeared to be a more competitive set with multiple players including private label in one large refrigerator at about half the grocery stores we visited. In addition, we observed many more flavors and form types of fresh pet food. Please see our takeaways and pictures inside, which we believe investors will find valuable in their study of the fresh pet food category within the US market and in other geographies. FRPT also has international ambitions with newer efforts in markets such as the UK and the Netherlands.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.4% and a 60.6% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freshpet with a $36.67 average price target.
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The company has a one-year high of $40.58 and a one-year low of $15.67. Currently, Freshpet has an average volume of 263.3K.
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Freshpet, Inc. engaged in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are sold throughout the United States and in Canada under the Freshpet Select, Vital, and Nature’s Fresh brands. The company was founded by Scott Morris and Cathal Walsh in October 2006 and is headquartered in Secaucus, NJ.
