Freshpet (NASDAQ:FRPT) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.
FRPT has been the topic of several other research reports. ValuEngine downgraded Freshpet from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Imperial Capital reaffirmed an “in-line” rating and set a $18.00 price objective (up previously from $16.50) on shares of Freshpet in a research note on Friday, March 9th. Susquehanna Bancshares set a $17.00 price objective on Freshpet and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Credit Suisse Group raised their price objective on Freshpet from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $23.00 price objective on shares of Freshpet in a research note on Tuesday, March 6th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $20.00.
Shares of Freshpet opened at $21.75 on Friday, MarketBeat reports. The firm has a market cap of $765.48 million, a P/E ratio of -181.25 and a beta of 1.66. Freshpet has a 12 month low of $13.60 and a 12 month high of $22.15.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, May 7th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $43.20 million for the quarter, compared to analyst estimates of $42.06 million. Freshpet had a negative return on equity of 4.35% and a negative net margin of 2.97%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. analysts expect that Freshpet will post -0.03 earnings per share for the current fiscal year.
In other Freshpet news, insider Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $21.00, for a total value of $105,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Stephen Macchiaverna sold 4,946 shares of Freshpet stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $20.50, for a total value of $101,393.00. Following the completion of the sale, the vice president now directly owns 73,884 shares in the company, valued at approximately $1,514,622. The disclosure for this sale can be found here. Insiders sold a total of 19,946 shares of company stock worth $414,393 in the last three months. Company insiders own 6.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Freshpet by 26.4% in the 1st quarter. Royal Bank of Canada now owns 24,867 shares of the company’s stock valued at $409,000 after purchasing an additional 5,199 shares during the period. Harvest Capital Strategies LLC raised its stake in shares of Freshpet by 2.8% in the 1st quarter. Harvest Capital Strategies LLC now owns 260,000 shares of the company’s stock valued at $4,277,000 after purchasing an additional 7,000 shares during the period. Millennium Management LLC acquired a new stake in shares of Freshpet in the 1st quarter valued at about $1,868,000. Barclays PLC raised its stake in shares of Freshpet by 130.3% in the 1st quarter. Barclays PLC now owns 9,283 shares of the company’s stock valued at $153,000 after purchasing an additional 5,253 shares during the period. Finally, United Capital Financial Advisers LLC raised its stake in shares of Freshpet by 66.4% in the 1st quarter. United Capital Financial Advisers LLC now owns 25,050 shares of the company’s stock valued at $412,000 after purchasing an additional 10,000 shares during the period. 74.46% of the stock is currently owned by hedge funds and other institutional investors.
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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