Freshpet Inc (NASDAQ:FRPT) – Equities researchers at SunTrust Banks issued their Q2 2019 EPS estimates for shares of Freshpet in a note issued to investors on Monday, November 5th. SunTrust Banks analyst W. Chappell forecasts that the company will post earnings of ($0.01) per share for the quarter. SunTrust Banks also issued estimates for Freshpet’s FY2019 earnings at $0.21 EPS.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, August 6th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $46.08 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The business’s quarterly revenue was up 23.0% compared to the same quarter last year.
A number of other equities research analysts have also recently weighed in on FRPT. BidaskClub cut Freshpet from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research raised Freshpet from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Wednesday, July 18th. Credit Suisse Group lifted their price objective on Freshpet from $26.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, August 13th. Stifel Nicolaus lifted their price objective on Freshpet from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, Imperial Capital lifted their price objective on Freshpet from $18.00 to $35.00 and gave the company an “in-line” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.57.
NASDAQ:FRPT opened at $34.35 on Wednesday. Freshpet has a 52 week low of $15.39 and a 52 week high of $40.58. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -286.25 and a beta of 1.55.
A number of institutional investors and hedge funds have recently bought and sold shares of FRPT. BlackRock Inc. raised its stake in Freshpet by 0.3% during the 1st quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock valued at $25,105,000 after acquiring an additional 4,854 shares during the last quarter. Barclays PLC raised its stake in 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 acquiring an additional 5,253 shares during the last quarter. Millennium Management LLC purchased a new stake in Freshpet during the 1st quarter valued at approximately $1,868,000. Royal Bank of Canada raised its stake in Freshpet by 26.4% during the 1st quarter. Royal Bank of Canada now owns 24,867 shares of the company’s stock valued at $409,000 after acquiring an additional 5,199 shares during the last quarter. Finally, OLD National Bancorp IN raised its stake in Freshpet by 29.9% during the 2nd quarter. OLD National Bancorp IN now owns 15,821 shares of the company’s stock valued at $434,000 after acquiring an additional 3,638 shares during the last quarter. 72.97% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Scott James Morris sold 3,512 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was 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 directly owns 173,672 shares of the company’s stock, valued at approximately $6,556,118. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $33.00, for a total value of $165,000.00. Following the completion of the sale, the vice president now directly owns 77,938 shares of the company’s stock, valued at $2,571,954. The disclosure for this sale can be found here. Insiders sold a total of 100,546 shares of company stock valued at $3,458,300 over the last three months. Company insiders own 5.10% 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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