BidaskClub Downgrades Freshpet (FRPT) to Sell

BidaskClub cut shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research note published on Tuesday.

FRPT has been the subject of a number of other research reports. Oppenheimer reissued a hold rating on shares of Freshpet in a report on Friday, December 1st. TheStreet raised shares of Freshpet from a d+ rating to a c- rating in a research note on Thursday, November 30th. Robert W. Baird set a $20.00 target price on shares of Freshpet and gave the stock a buy rating in a research note on Sunday, October 15th. Stifel Nicolaus reaffirmed a buy rating on shares of Freshpet in a research note on Friday, December 15th. Finally, Credit Suisse Group increased their target price on shares of Freshpet from $15.00 to $17.00 and gave the stock a neutral rating in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $18.64.

Shares of Freshpet (NASDAQ FRPT) remained flat at $$18.70 on Tuesday. 106,676 shares of the stock traded hands, compared to its average volume of 170,031. Freshpet has a 1 year low of $9.25 and a 1 year high of $20.50. The stock has a market cap of $651.90, a PE ratio of -143.85 and a beta of 1.97.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share (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 during the quarter, compared to analyst estimates of $41.19 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Freshpet’s quarterly revenue was up 19.4% on a year-over-year basis. sell-side analysts expect that Freshpet will post -0.11 earnings per share for the current fiscal year.

In other Freshpet news, CFO Richard A. Kassar sold 15,125 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $17.92, for a total transaction of $271,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott James Morris sold 10,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the transaction, the chief operating officer now directly owns 212,307 shares of the company’s stock, valued at approximately $3,651,680.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,218 shares of company stock valued at $1,211,499. 6.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Freshpet by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock valued at $1,145,000 after purchasing an additional 380 shares during the period. Citadel Advisors LLC boosted its stake in shares of Freshpet by 4.0% in the second quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock valued at $321,000 after purchasing an additional 750 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Freshpet by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock valued at $343,000 after purchasing an additional 1,144 shares during the period. Rhumbline Advisers boosted its stake in shares of Freshpet by 6.9% in the second quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock valued at $419,000 after purchasing an additional 1,640 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Freshpet by 10.3% in the second quarter. TIAA CREF Investment Management LLC now owns 83,853 shares of the company’s stock valued at $1,392,000 after purchasing an additional 7,839 shares during the period. 69.77% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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