Freshpet, Inc. (FRPT) Now Covered by Imperial Capital

Equities research analysts at Imperial Capital initiated coverage on shares of Freshpet, Inc. (NASDAQ:FRPT) in a note issued to investors on Thursday, July 20th, MarketBeat reports. The firm set an “in-line” rating and a $16.50 price target on the stock. Imperial Capital’s price objective would indicate a potential upside of 1.54% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Freshpet from a “hold” rating to a “sell” rating in a report on Monday, May 8th. ValuEngine upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group boosted their price target on shares of Freshpet from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, May 5th. Finally, Robert W. Baird set a $13.00 target price on shares of Freshpet and gave the company a “buy” rating in a research note on Saturday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.07.

Freshpet (FRPT) opened at 16.25 on Thursday. The firm has a 50-day moving average of $16.45 and a 200 day moving average of $13.13. Freshpet has a 12-month low of $7.60 and a 12-month high of $18.25. The company’s market capitalization is $516.75 million.

In other news, insider Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $16.73, for a total value of $83,650.00. Following the sale, the insider now owns 207,307 shares of the company’s stock, valued at $3,468,246.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen Macchiaverna sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $14.13, for a total transaction of $141,300.00. Following the completion of the sale, the vice president now directly owns 82,938 shares in the company, valued at approximately $1,171,913.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,125 shares of company stock worth $666,758. Corporate insiders own 8.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Freshpet during the fourth quarter valued at about $1,563,000. State Street Corp raised its stake in Freshpet by 7.8% in the fourth quarter. State Street Corp now owns 323,264 shares of the company’s stock valued at $3,281,000 after buying an additional 23,391 shares during the period. Teachers Advisors LLC raised its stake in Freshpet by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 34,476 shares of the company’s stock valued at $350,000 after buying an additional 396 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in Freshpet during the first quarter valued at about $2,891,000. Finally, Emerald Advisers Inc. PA raised its stake in Freshpet by 30.4% in the first quarter. Emerald Advisers Inc. PA now owns 575,586 shares of the company’s stock valued at $6,331,000 after buying an additional 134,308 shares during the period. 65.49% of the stock is currently owned by institutional investors.

About Freshpet

Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company’s products consist of dog food, cat food, and dog and cat treats.