Freshpet (NASDAQ:FRPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “
A number of other equities analysts also recently issued reports on FRPT. Susquehanna Bancshares initiated coverage on shares of Freshpet in a report on Monday, October 2nd. They set a “neutral” rating and a $15.00 price objective on the stock. Robert W. Baird set a $20.00 price objective on shares of Freshpet and gave the stock a “buy” rating in a report on Sunday, October 15th. Credit Suisse Group lifted their price objective on shares of Freshpet from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, November 7th. Oppenheimer reaffirmed a “hold” rating on shares of Freshpet in a report on Friday, December 1st. Finally, TheStreet raised shares of Freshpet from a “d+” rating to a “c-” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $18.64.
Freshpet (NASDAQ:FRPT) opened at $18.35 on Tuesday. The stock has a market cap of $646.68, a price-to-earnings ratio of -141.15 and a beta of 1.97. Freshpet has a fifty-two week low of $9.25 and a fifty-two week high of $20.50.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $41.20 million for the quarter, compared to the consensus estimate of $41.19 million. Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS. analysts predict that Freshpet will post -0.11 EPS for the current year.
In related news, CFO Richard A. Kassar sold 15,125 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $17.92, for a total value of $271,040.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Scott James Morris sold 10,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the sale, the chief operating officer now owns 212,307 shares in the company, valued at $3,651,680.40. The disclosure for this sale can be found here. Insiders sold a total of 68,218 shares of company stock worth $1,211,499 over the last three months. 6.80% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in Freshpet by 18.1% in the 2nd quarter. State Street Corp now owns 385,641 shares of the company’s stock valued at $6,401,000 after acquiring an additional 58,972 shares during the period. Uniplan Investment Counsel Inc. bought a new stake in Freshpet in the 3rd quarter valued at about $2,591,000. Emerald Advisers Inc. PA raised its stake in Freshpet by 27.1% in the 3rd quarter. Emerald Advisers Inc. PA now owns 860,124 shares of the company’s stock valued at $13,461,000 after acquiring an additional 183,620 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Freshpet in the 2nd quarter valued at about $498,000. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in Freshpet by 117.1% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,682,510 shares of the company’s stock valued at $26,331,000 after acquiring an additional 907,644 shares during the period. Institutional investors and hedge funds own 69.77% of the company’s stock.
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Freshpet Company Profile
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.
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