Brokerages forecast that Freshpet Inc (NASDAQ:FRPT) will post sales of $45.75 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Freshpet’s earnings, with the lowest sales estimate coming in at $45.10 million and the highest estimate coming in at $47.10 million. Freshpet reported sales of $39.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.5%. The firm is scheduled to report its next 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 financial year, with estimates ranging from $185.30 million to $187.00 million. For the next fiscal year, analysts forecast that the company will report sales of $229.20 million per share. Zacks’ sales averages are an average based on a survey of analysts that follow Freshpet.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $43.20 million for the quarter, compared to analyst estimates of $42.06 million. Freshpet had a negative return on equity of 4.35% and a negative net margin of 2.97%. Freshpet’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share.
A number of equities analysts recently issued reports on the stock. Credit Suisse Group upped their price objective on shares of Freshpet from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 19th. BidaskClub upgraded shares of Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 20th. ValuEngine upgraded shares of Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Finally, Susquehanna Bancshares set a $17.00 price objective on shares of Freshpet and gave the stock a “hold” rating in a research report on Tuesday, May 8th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.43.
In other Freshpet news, COO Scott James Morris sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 207,798 shares in the company, valued at approximately $4,322,198.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Stephen Macchiaverna sold 4,946 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $20.50, for a total transaction of $101,393.00. Following the completion of the transaction, the vice president now owns 73,884 shares of the company’s stock, valued at $1,514,622. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,474 shares of company stock valued at $1,073,795. Corporate insiders own 6.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRPT. Apertura Capital LLC boosted its stake in shares of Freshpet by 87.3% in the 1st quarter. Apertura Capital LLC now owns 412,100 shares of the company’s stock valued at $6,779,000 after purchasing an additional 192,100 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Freshpet in the 1st quarter valued at $1,868,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Freshpet by 25.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 500,000 shares of the company’s stock valued at $8,225,000 after purchasing an additional 100,000 shares during the last quarter. Next Century Growth Investors LLC bought a new stake in shares of Freshpet in the 4th quarter valued at $1,776,000. Finally, Wasatch Advisors Inc. boosted its stake in shares of Freshpet by 11.4% in the 1st quarter. Wasatch Advisors Inc. now owns 912,675 shares of the company’s stock valued at $15,014,000 after purchasing an additional 93,161 shares during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Freshpet traded down $0.05, reaching $26.10, during trading on Friday, Marketbeat reports. 203,700 shares of the company were exchanged, compared to its average volume of 238,830. The stock has a market cap of $876.34 million, a price-to-earnings ratio of -217.92 and a beta of 1.71. Freshpet has a twelve month low of $14.10 and a twelve month high of $26.30.
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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