Freshpet Inc (NASDAQ:FRPT) – Imperial Capital upped their Q4 2018 earnings per share estimates for shares of Freshpet in a research note issued to investors on Tuesday, November 6th. Imperial Capital analyst G. Kelly now expects that the company will earn $0.10 per share for the quarter, up from their prior estimate of $0.08. Imperial Capital has a “In-Line” rating and a $35.00 price target on the stock. Imperial Capital also issued estimates for Freshpet’s 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.
Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Freshpet had a negative net margin of 3.33% and a negative return on equity of 5.05%. The business had revenue of $47.60 million for the quarter, compared to analyst estimates of $46.08 million. During the same quarter last year, the firm posted ($0.08) earnings per share. Freshpet’s revenue was up 23.0% on a year-over-year basis.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Freshpet from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, July 18th. Stifel Nicolaus lifted their target price on shares of Freshpet from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Credit Suisse Group lifted their target price on shares of 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 lifted their target price on shares of Freshpet from $27.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $29.57.
Shares of Freshpet stock opened at $34.35 on Wednesday. Freshpet has a twelve month low of $15.39 and a twelve month high of $40.58. The stock has a market cap of $1.28 billion, a PE ratio of -286.25 and a beta of 1.55.
Hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its holdings 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 purchasing an additional 5,253 shares during the last quarter. SG Americas Securities LLC bought a new position in Freshpet during the 3rd quarter valued at about $206,000. Wedge Capital Management L L P NC bought a new position in Freshpet during the 2nd quarter valued at about $217,000. IFG Advisory LLC bought a new position in Freshpet during the 3rd quarter valued at about $234,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Freshpet during the 2nd quarter valued at about $263,000. 72.97% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Richard A. Kassar sold 15,000 shares of Freshpet stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $33.50, for a total transaction of $502,500.00. Following the completion of the transaction, the chief financial officer now directly owns 203,231 shares of the company’s stock, valued at approximately $6,808,238.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen Macchiaverna sold 5,000 shares of Freshpet stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $33.00, for a total transaction of $165,000.00. Following the transaction, 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 have sold a total of 100,546 shares of company stock valued at $3,458,300 over the last three months. 5.10% of the stock is currently owned by insiders.
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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