Freshpet Inc (NASDAQ:FRPT) has earned an average rating of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $26.33.
Several equities analysts have recently issued reports on the company. BidaskClub upgraded Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. Credit Suisse Group lifted their price target on Freshpet from $26.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, August 13th. Robert W. Baird lifted their price target on Freshpet from $27.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, July 30th. Stifel Nicolaus lifted their target price on Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research cut Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st.
Shares of FRPT stock opened at $39.08 on Friday. Freshpet has a 1 year low of $15.05 and a 1 year high of $40.58.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Freshpet had a negative net margin of 3.33% and a negative return on equity of 5.05%. The firm had revenue of $47.60 million for the quarter, compared to analyst estimates of $46.08 million. During the same quarter last year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Analysts anticipate that Freshpet will post -0.05 earnings per share for the current year.
In other news, VP Stephen Macchiaverna sold 5,000 shares of Freshpet stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the transaction, the vice president now owns 77,938 shares in the company, valued at $2,571,954. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott James Morris sold 4,450 shares of Freshpet stock in a transaction on Friday, August 10th. The shares were sold at an average price of $34.00, for a total value of $151,300.00. Following the transaction, the insider now owns 197,798 shares in the company, valued at approximately $6,725,132. The disclosure for this sale can be found here. Insiders sold a total of 100,546 shares of company stock worth $3,458,300 over the last 90 days. Insiders own 5.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Freshpet by 10.1% during the second quarter. BlackRock Inc. now owns 1,679,807 shares of the company’s stock valued at $46,110,000 after buying an additional 153,678 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Freshpet by 13.3% during the second quarter. Bank of New York Mellon Corp now owns 778,054 shares of the company’s stock valued at $21,357,000 after buying an additional 91,592 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Freshpet by 40.4% during the second quarter. Public Employees Retirement Association of Colorado now owns 702,128 shares of the company’s stock valued at $19,273,000 after buying an additional 202,128 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Freshpet by 3.4% during the second quarter. Northern Trust Corp now owns 454,434 shares of the company’s stock valued at $12,474,000 after buying an additional 15,019 shares in the last quarter. Finally, Manatuck Hill Partners LLC grew its holdings in shares of Freshpet by 409.2% during the second quarter. Manatuck Hill Partners LLC now owns 305,500 shares of the company’s stock valued at $8,386,000 after buying an additional 245,500 shares in the last quarter. Institutional investors and hedge funds own 72.99% 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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