Freshpet (FRPT) Received its Third Buy in a Row
After Robert W. Baird and Jefferies gave Freshpet (NASDAQ: FRPT) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Rupesh Parikh assigned a Buy rating to Freshpet today and set a price target of $200.00. The company’s shares closed last Wednesday at $163.25.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 12.1% and a 65.2% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.
Freshpet has an analyst consensus of Moderate Buy, with a price target consensus of $193.50, implying a 17.3% upside from current levels. In a report issued on June 9, Jefferies also assigned a Buy rating to the stock with a $212.00 price target.
See today’s analyst top recommended stocks >>
Freshpet’s market cap is currently $7.14B and has a P/E ratio of -677.40. The company has a Price to Book ratio of 10.12.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FRPT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Freshpet, Inc. engages 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. Its products include deli fresh grain free chicken recipe for dogs; dog joy turkey and apple bites treats for dogs; nature’s fresh grain free chicken recipe for cats; and vital grain free chicken and ocean whitefish recipe for cats. The company was founded by Scott Morris and Cathal Walsh in November 2004 and is headquartered in Secaucus, NJ.