Freshpet (NASDAQ:FRPT) had its price target boosted by analysts at Imperial Capital from $18.00 to $35.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has an “in-line” rating on the stock. Imperial Capital’s target price indicates a potential upside of 1.89% from the stock’s previous close. Imperial Capital also issued estimates for Freshpet’s Q4 2018 earnings at $0.10 EPS, Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.23 EPS and FY2020 earnings at $0.61 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Freshpet from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, July 18th. BidaskClub cut Freshpet from a “strong-buy” rating to a “buy” rating in a report on Friday, November 2nd. Stifel Nicolaus upped their target price on Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Credit Suisse Group upped their price target on Freshpet from $26.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, August 13th. Finally, Robert W. Baird upped their price target on Freshpet from $27.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $29.57.
Shares of FRPT opened at $34.35 on Tuesday. Freshpet has a 12-month low of $15.39 and a 12-month high of $40.58. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -286.25 and a beta of 1.55.
Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Freshpet had a negative return on equity of 5.05% and a negative net margin of 3.33%. The firm had revenue of $47.60 million during the quarter, compared to analyst estimates of $46.08 million. During the same period in the previous year, the company earned ($0.08) EPS. Freshpet’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts forecast that Freshpet will post -0.05 earnings per share for the current year.
In other Freshpet news, VP Stephen Macchiaverna sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $33.00, for a total value of $165,000.00. Following the sale, the vice president now owns 77,938 shares in the company, valued at approximately $2,571,954. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Scott James Morris sold 3,512 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $37.75, for a total value of $132,578.00. Following the completion of the sale, the chief operating officer now owns 173,672 shares in the company, valued at approximately $6,556,118. The disclosure for this sale can be found here. Insiders sold a total of 100,546 shares of company stock worth $3,458,300 in the last quarter. Corporate insiders own 5.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in FRPT. Barclays PLC boosted its position in shares of Freshpet by 130.3% during 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Freshpet during the 3rd quarter valued at about $206,000. Wedge Capital Management L L P NC bought a new stake in shares of Freshpet during the 2nd quarter valued at about $217,000. IFG Advisory LLC bought a new stake in shares of Freshpet during the 3rd quarter valued at about $234,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Freshpet during the 2nd quarter valued at about $263,000. Institutional investors own 72.97% of the company’s stock.
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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