Truist Financial analyst Bill Chappell assigned a Hold rating to Freshpet (FRPT – Research Report) today and set a price target of $110.12. The company’s shares closed yesterday at $110.12.
Chappell covers the Consumer Defensive sector, focusing on stocks such as MGP Ingredients, Post Holdings, and Procter & Gamble. According to TipRanks, Chappell has an average return of 6.0% and a 54.57% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freshpet with a $113.39 average price target.
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Based on Freshpet’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $200.62 million and a GAAP net loss of $7.17 million. In comparison, last year the company earned a revenue of $151.33 million and had a GAAP net loss of $18.45 million
Based on the recent corporate insider activity of 23 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. Most recently, in December 2023, Stephen Macchiaverna, the EVP, Secretary Treasurer of FRPT sold 4,468.00 shares for a total of $375,312.00.
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Freshpet (FRPT) Company Description:
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.
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