Last Updated: 19 Sep 2024
Executive Summary
Freshpet Inc. (FRPT) is a leading manufacturer and marketer of fresh natural cat and dog food and treats. The company has a strong market position, with a growing customer base and a loyal following. FRPT's financial performance has been impressive in recent years, with revenue and earnings growing at a healthy pace. The company is also generating strong cash flow and has a solid balance sheet.
Company Overview
Freshpet was founded in 2006 and is headquartered in Secaucus, New Jersey. The company's products are sold in over 30,000 retail stores across the United States, Canada, and the United Kingdom. FRPT's products are made with fresh, natural ingredients and are free of artificial flavors, colors, and preservatives.
Fundamental Analysis
FRPT's financial performance has been strong in recent years. Revenue has grown from $388 million in 2017 to $875 million in 2023. Earnings per share have also grown significantly, from $0.17 in 2017 to $0.51 in 2023. The company is also generating strong cash flow and has a solid balance sheet.
Technical Analysis
FRPT's stock price has been on a steady upward trend in recent years. The stock price hit a 52-week high of $143.98 in January 2023. The stock price has since pulled back slightly, but it remains well above its 50-day and 200-day moving averages.
Short Term Outlook
The technical analysis suggests that FRPT's stock price is likely to continue to trend higher in the short term. The stock price is above its moving averages and is trading in a bullish pattern. There is also strong support at the $130 level.
Long Term Outlook
The long-term outlook for FRPT is also positive. The company has a strong market position, a growing customer base, and a loyal following. FRPT is also generating strong cash flow and has a solid balance sheet. The company is well-positioned to continue to grow in the years to come.
Analyst Recommendations
The majority of analysts who cover FRPT have a "buy" or "strong buy" rating on the stock. The average analyst target price is $149.5.
