Freshpet (FRPT) Expected to Post Quarterly Sales of $45.75 Million

Equities analysts forecast that Freshpet (NASDAQ:FRPT) will post sales of $45.75 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Freshpet’s earnings, with the highest sales estimate coming in at $47.10 million and the lowest estimate coming in at $45.10 million. Freshpet reported sales of $39.97 million during the same quarter last year, which indicates a positive year over year growth rate of 14.5%. The company is scheduled to report its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that Freshpet will report full-year sales of $186.11 million for the current year, with estimates ranging from $185.30 million to $187.00 million. For the next year, analysts forecast that the company will post sales of $225.42 million per share, with estimates ranging from $218.20 million to $230.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Freshpet.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, May 7th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). Freshpet had a negative return on equity of 4.35% and a negative net margin of 2.97%. The firm had revenue of $43.20 million for the quarter, compared to analyst estimates of $42.06 million. During the same period in the previous year, the business posted ($0.09) EPS. Freshpet’s revenue for the quarter was up 25.2% compared to the same quarter last year.

Several analysts have recently weighed in on the company. BidaskClub lowered Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Susquehanna Bancshares set a $17.00 price objective on Freshpet and gave the stock a “hold” rating in a report on Tuesday, May 8th. Zacks Investment Research raised Freshpet from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. ValuEngine raised Freshpet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Imperial Capital reissued an “in-line” rating and set a $18.00 price objective (up previously from $16.50) on shares of Freshpet in a report on Friday, March 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

In related news, VP Stephen Macchiaverna sold 4,946 shares of the business’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $20.50, for a total value of $101,393.00. Following the sale, the vice president now owns 73,884 shares of the company’s stock, valued at approximately $1,514,622. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Scott James Morris sold 10,000 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $20.80, for a total value of $208,000.00. Following the completion of the sale, the chief operating officer now directly owns 207,798 shares in the company, valued at approximately $4,322,198.40. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Harvest Capital Strategies LLC boosted its stake in Freshpet by 2.8% in the 1st quarter. Harvest Capital Strategies LLC now owns 260,000 shares of the company’s stock valued at $4,277,000 after buying an additional 7,000 shares in the last quarter. Millennium Management LLC bought a new position in Freshpet in the 1st quarter valued at $1,868,000. Barclays PLC raised its position in Freshpet by 130.3% in 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. United Capital Financial Advisers LLC raised its position in Freshpet by 66.4% in the 1st quarter. United Capital Financial Advisers LLC now owns 25,050 shares of the company’s stock valued at $412,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Freshpet by 46.9% in the 1st quarter. Blair William & Co. IL now owns 25,075 shares of the company’s stock valued at $412,000 after purchasing an additional 8,000 shares during the last quarter. 74.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:FRPT opened at $21.75 on Friday. Freshpet has a 1-year low of $20.75 and a 1-year high of $20.90. The company has a market cap of $725.01 million, a PE ratio of -181.25 and a beta of 1.66.

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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Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

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