In a report released today, Mark Astrachan from Stifel Nicolaus maintained a Buy rating on Freshpet (NASDAQ: FRPT), with a price target of $33. The company’s shares closed yesterday at $29.10, close to its 52-week high of $30.85.
According to TipRanks.com, Astrachan is a 4-star analyst with an average return of 6.8% and a 61.9% success rate. Astrachan covers the Consumer Goods sector, focusing on stocks such as International Flavors & Fragrances, Monster Beverage Corp, and Colgate-Palmolive.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freshpet with a $32 average price target, implying a 10.0% upside from current levels. In a report issued on July 29, Robert W. Baird also reiterated a Buy rating on the stock with a $35 price target.
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Based on Freshpet’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.5 million. In comparison, last year the company had a GAAP net loss of $2.65 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.
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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.
