Freshpet (NASDAQ:FRPT) had its target price lifted by Credit Suisse Group from $20.00 to $23.00 in a research note published on Tuesday morning. Credit Suisse Group currently has a neutral rating on the stock.
A number of other research analysts have also weighed in on FRPT. BidaskClub upgraded Freshpet from a sell rating to a hold rating in a research report on Thursday, April 26th. Susquehanna Bancshares set a $17.00 price objective on Freshpet and gave the company a hold rating in a research report on Tuesday, May 8th. Zacks Investment Research upgraded Freshpet from a sell rating to a hold rating in a research report on Wednesday, May 9th. ValuEngine upgraded Freshpet from a buy rating to a strong-buy rating in a research report on Wednesday, May 2nd. Finally, Imperial Capital restated an in-line rating and set a $18.00 price objective (up previously from $16.50) on shares of Freshpet in a research report on Friday, March 9th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $20.43.
Shares of Freshpet stock opened at $24.90 on Tuesday. The stock has a market cap of $883.38 million, a PE ratio of -207.50 and a beta of 1.71. Freshpet has a twelve month low of $14.10 and a twelve month high of $25.25.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, May 7th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The firm had revenue of $43.20 million for the quarter, compared to analysts’ expectations of $42.06 million. Freshpet had a negative net margin of 2.97% and a negative return on equity of 4.35%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. sell-side analysts forecast that Freshpet will post -0.03 EPS for the current year.
In related news, VP Stephen Macchiaverna sold 4,946 shares of Freshpet stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $20.50, for a total value of $101,393.00. Following the completion of the transaction, the vice president now owns 73,884 shares in the company, valued at $1,514,622. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott James Morris sold 7,500 shares of Freshpet stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $24.17, for a total value of $181,275.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,474 shares of company stock valued at $1,073,795. 6.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. Schwab Charles Investment Management Inc. grew its position in Freshpet by 11.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 110,861 shares of the company’s stock worth $2,101,000 after acquiring an additional 11,736 shares in the last quarter. California Public Employees Retirement System purchased a new position in Freshpet in the fourth quarter worth about $357,000. Bank of New York Mellon Corp grew its position in Freshpet by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 639,033 shares of the company’s stock worth $12,109,000 after acquiring an additional 13,274 shares in the last quarter. BlackRock Inc. grew its position in Freshpet by 4.9% in the fourth quarter. BlackRock Inc. now owns 1,521,275 shares of the company’s stock worth $28,827,000 after acquiring an additional 71,368 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Freshpet during the fourth quarter valued at approximately $246,000. Institutional investors own 74.98% of the company’s stock.
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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