Freshpet, Inc. (NASDAQ:FRPT) – Stock analysts at William Blair dropped their FY2017 earnings estimates for Freshpet in a research note issued on Monday. William Blair analyst J. Andersen now expects that the company will post earnings per share of ($0.07) for the year, down from their prior forecast of ($0.06). William Blair also issued estimates for Freshpet’s Q4 2017 earnings at $0.09 EPS.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.01. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. The business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.09 million. During the same period last year, the firm earned ($0.10) earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year.
A number of other research analysts have also weighed in on FRPT. Credit Suisse Group raised their price objective on shares of Freshpet from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. Zacks Investment Research lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. ValuEngine raised shares of Freshpet from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Imperial Capital started coverage on shares of Freshpet in a research note on Thursday, July 20th. They issued an “in-line” rating and a $16.50 price objective on the stock. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective (up from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.69.
Shares of Freshpet (FRPT) opened at 15.30 on Thursday. The company’s market capitalization is $486.54 million. Freshpet has a 12 month low of $7.60 and a 12 month high of $18.25. The firm’s 50-day moving average is $16.50 and its 200 day moving average is $13.40.
In related news, insider Scott James Morris sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $16.73, for a total transaction of $83,650.00. Following the transaction, the insider now directly owns 207,307 shares of the company’s stock, valued at $3,468,246.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard A. Kassar sold 15,125 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.26, for a total transaction of $230,807.50. Following the transaction, the chief financial officer now directly owns 215,119 shares in the company, valued at $3,282,715.94. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in Freshpet by 10.2% in the second quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock worth $42,124,000 after buying an additional 233,847 shares during the last quarter. JPMorgan Chase & Co. raised its position in Freshpet by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 1,376,118 shares of the company’s stock worth $15,137,000 after buying an additional 48,258 shares during the last quarter. Vanguard Group Inc. raised its position in Freshpet by 3.6% in the second quarter. Vanguard Group Inc. now owns 1,095,224 shares of the company’s stock worth $18,181,000 after buying an additional 37,762 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in Freshpet during the second quarter worth $12,863,000. Finally, Emerald Advisers Inc. PA raised its position in Freshpet by 17.5% in the second quarter. Emerald Advisers Inc. PA now owns 676,504 shares of the company’s stock worth $11,230,000 after buying an additional 100,918 shares during the last quarter. 65.49% of the stock is currently owned by institutional investors.
Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company’s products consist of dog food, cat food, and dog and cat treats.
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