Wall Street analysts expect that Freshpet Inc (NASDAQ:FRPT) will post $59.86 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Freshpet’s earnings, with estimates ranging from $58.80 million to $61.55 million. Freshpet reported sales of $47.63 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.7%. The business is scheduled to issue its next earnings results on Monday, August 5th.
On average, analysts expect that Freshpet will report full-year sales of $241.54 million for the current year, with estimates ranging from $240.10 million to $243.48 million. For the next financial year, analysts expect that the business will post sales of $298.19 million, with estimates ranging from $290.10 million to $301.10 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Freshpet.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Freshpet had a negative return on equity of 4.46% and a negative net margin of 2.57%. The business had revenue of $54.80 million for the quarter, compared to analysts’ expectations of $54.28 million. During the same period last year, the company posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis.
FRPT has been the subject of a number of research reports. BidaskClub cut shares of Freshpet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group set a $36.00 price objective on shares of Freshpet and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. TheStreet raised shares of Freshpet from a “c+” rating to a “b” rating in a research report on Tuesday, February 26th. Finally, Imperial Capital reissued an “in-line” rating and issued a $40.00 price objective (up from $35.00) on shares of Freshpet in a research report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.00.
In other news, EVP Stephen Weise sold 5,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at approximately $237,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott James Morris sold 49,766 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $47.79, for a total transaction of $2,378,317.14. Following the completion of the sale, the insider now owns 170,232 shares in the company, valued at approximately $8,135,387.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,275 shares of company stock valued at $5,268,037. 5.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in shares of Freshpet by 1,008.8% in the first quarter. Advisor Group Inc. now owns 632 shares of the company’s stock valued at $26,000 after buying an additional 575 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of Freshpet in the fourth quarter valued at approximately $58,000. NumerixS Investment Technologies Inc acquired a new position in shares of Freshpet in the first quarter valued at approximately $120,000. SG Americas Securities LLC bought a new stake in shares of Freshpet in the first quarter worth $140,000. Finally, Legal & General Group Plc lifted its position in shares of Freshpet by 28.2% in the fourth quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock worth $167,000 after purchasing an additional 1,146 shares in the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.
Freshpet stock traded down $0.66 during trading on Friday, reaching $47.84. 18,013 shares of the company’s stock were exchanged, compared to its average volume of 272,644. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07. Freshpet has a 52-week low of $23.75 and a 52-week high of $49.41. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -317.67 and a beta of 1.22.
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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