FY2018 EPS Estimates for Freshpet Inc Boosted by Analyst (FRPT)

Freshpet Inc (NASDAQ:FRPT) – Equities research analysts at SunTrust Banks lifted their FY2018 EPS estimates for shares of Freshpet in a research report issued to clients and investors on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $0.06 for the year, up from their prior estimate of $0.05.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 6th. The company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The firm had revenue of $41.20 million for the quarter, compared to the consensus estimate of $41.19 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year.

Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird reiterated a “buy” rating and set a $22.00 price objective on shares of Freshpet in a research note on Wednesday, January 3rd. Susquehanna Bancshares assumed coverage on shares of Freshpet in a research note on Monday, October 2nd. They set a “neutral” rating and a $15.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Freshpet in a research note on Friday, December 15th. Two investment 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 stock currently has a consensus rating of “Hold” and a consensus target price of $18.64.

Freshpet (FRPT) traded up $0.35 during midday trading on Wednesday, reaching $18.70. 122,482 shares of the company’s stock were exchanged, compared to its average volume of 180,673. Freshpet has a 12-month low of $9.25 and a 12-month high of $20.50. The company has a market cap of $651.90, a P/E ratio of -143.85 and a beta of 1.97.

Several hedge funds have recently added to or reduced their stakes in FRPT. Schwab Charles Investment Management Inc. increased its holdings in shares of Freshpet by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock worth $1,145,000 after acquiring an additional 380 shares during the period. Rhumbline Advisers increased its holdings in shares of Freshpet by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock worth $419,000 after acquiring an additional 1,640 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Freshpet by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,954 shares of the company’s stock worth $9,960,000 after acquiring an additional 68,254 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Freshpet by 10.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock worth $42,124,000 after acquiring an additional 233,847 shares during the period. Finally, Teachers Advisors LLC increased its holdings in shares of Freshpet by 21.3% in the 2nd quarter. Teachers Advisors LLC now owns 44,712 shares of the company’s stock worth $742,000 after acquiring an additional 7,855 shares during the period. 69.77% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Scott James Morris sold 20,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $17.26, for a total value of $345,200.00. Following the sale, the insider now owns 212,307 shares of the company’s stock, valued at approximately $3,664,418.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard A. Kassar sold 15,125 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $17.92, for a total transaction of $271,040.00. The disclosure for this sale can be found here. Insiders have sold 68,218 shares of company stock worth $1,211,499 over the last three months. 6.80% of the stock is owned by corporate insiders.

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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.

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