Freshpet Inc (NASDAQ:FRPT) – Imperial Capital reduced their FY2018 earnings per share (EPS) estimates for shares of Freshpet in a research note issued on Tuesday, November 6th. Imperial Capital analyst G. Kelly now anticipates that the company will post earnings of ($0.10) per share for the year, down from their previous estimate of ($0.02). Imperial Capital has a “In-Line” rating and a $35.00 price objective on the stock. Imperial Capital also issued estimates for Freshpet’s Q1 2019 earnings at ($0.01) EPS.
A number of other analysts have also commented on FRPT. Zacks Investment Research raised Freshpet from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, July 18th. Robert W. Baird lifted their target price on Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Stifel Nicolaus lifted their target price on Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Credit Suisse Group lifted their target price on Freshpet from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Finally, BidaskClub lowered Freshpet from a “strong-buy” rating to a “buy” rating in a report on Friday, October 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.57.
Freshpet stock opened at $36.93 on Thursday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -307.75 and a beta of 1.55. Freshpet has a 12 month low of $15.67 and a 12 month high of $40.58.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 6th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $47.60 million during the quarter, compared to the consensus estimate of $46.08 million. Freshpet had a negative return on equity of 4.88% and a negative net margin of 3.07%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS.
In related news, CFO Richard A. Kassar sold 20,000 shares of Freshpet stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $33.85, for a total transaction of $677,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Scott James Morris sold 3,512 shares of Freshpet stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $37.75, for a total value of $132,578.00. Following the transaction, the chief operating officer now owns 173,672 shares in the company, valued at $6,556,118. The disclosure for this sale can be found here. Insiders sold 76,096 shares of company stock valued at $2,639,500 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRPT. Victory Capital Management Inc. purchased a new position in Freshpet during the third quarter valued at $23,920,000. Hood River Capital Management LLC purchased a new position in Freshpet during the second quarter valued at $8,110,000. Manatuck Hill Partners LLC lifted its position in Freshpet by 409.2% during the second quarter. Manatuck Hill Partners LLC now owns 305,500 shares of the company’s stock valued at $8,386,000 after purchasing an additional 245,500 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Freshpet during the second quarter valued at $5,765,000. Finally, Wells Fargo & Company MN lifted its position in Freshpet by 448.4% during the third quarter. Wells Fargo & Company MN now owns 250,969 shares of the company’s stock valued at $9,211,000 after purchasing an additional 205,202 shares in the last quarter. Institutional investors own 72.97% of the company’s stock.
Freshpet Company Profile
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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