BidaskClub lowered shares of Freshpet (NASDAQ:FRPT) from a buy rating to a hold rating in a report released on Friday, BidAskClub reports.
Several other brokerages have also weighed in on FRPT. Zacks Investment Research lowered shares of Freshpet from a hold rating to a strong sell rating in a report on Tuesday, October 8th. ValuEngine lowered shares of Freshpet from a buy rating to a hold rating in a report on Wednesday, September 4th. SunTrust Banks decreased their price target on shares of Freshpet to $45.00 and set a neutral rating for the company in a report on Tuesday, August 6th. They noted that the move was a valuation call. Stifel Nicolaus set a $57.00 price target on shares of Freshpet and gave the company a buy rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. began coverage on shares of Freshpet in a report on Tuesday, July 30th. They issued a neutral rating and a $46.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $47.71.
FRPT stock traded up $0.17 during mid-day trading on Friday, hitting $47.04. 215,770 shares of the company were exchanged, compared to its average volume of 337,894. The company has a market capitalization of $1.67 billion, a PE ratio of -313.57 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.32. Freshpet has a twelve month low of $28.44 and a twelve month high of $52.42. The firm has a fifty day simple moving average of $48.74 and a 200 day simple moving average of $45.57.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.08). The company had revenue of $60.10 million for the quarter, compared to analyst estimates of $59.59 million. Freshpet had a negative return on equity of 6.23% and a negative net margin of 3.42%. Freshpet’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. As a group, sell-side analysts anticipate that Freshpet will post 0.05 earnings per share for the current year.
In other Freshpet news, Director J David Basto purchased 6,400 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $38.61 per share, with a total value of $247,104.00. Following the acquisition, the director now owns 23,721 shares of the company’s stock, valued at approximately $915,867.81. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of FRPT. HM Payson & Co. bought a new stake in Freshpet in the 2nd quarter valued at about $50,000. Redhawk Wealth Advisors Inc. bought a new stake in Freshpet in the 2nd quarter valued at about $68,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Freshpet by 21.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after purchasing an additional 363 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Freshpet in the 1st quarter valued at about $120,000. Finally, Xact Kapitalforvaltning AB bought a new stake in Freshpet in the 1st quarter valued at about $233,000. Hedge funds and other institutional investors own 96.67% 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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