BidaskClub upgraded shares of Freshpet (NASDAQ:FRPT) from a buy rating to a strong-buy rating in a research report report published on Friday morning.
Several other analysts also recently commented on FRPT. Credit Suisse Group upped their price objective on Freshpet from $20.00 to $23.00 and gave the company a neutral rating in a research note on Tuesday, June 19th. Zacks Investment Research raised Freshpet from a hold rating to a buy rating and set a $32.00 price objective for the company in a research note on Wednesday, July 18th. Robert W. Baird upped their price objective on Freshpet from $27.00 to $35.00 and gave the company an outperform rating in a research note on Monday, July 30th. Finally, Stifel Nicolaus upped their price objective on Freshpet from $27.00 to $33.00 and gave the company a buy rating in a research note on Tuesday, August 7th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Freshpet has an average rating of Buy and a consensus price target of $27.14.
FRPT traded up $0.62 on Friday, hitting $36.08. 255,180 shares of the company traded hands, compared to its average volume of 261,616. The company has a market cap of $1.30 billion, a PE ratio of -300.67 and a beta of 1.83. Freshpet has a 12-month low of $15.05 and a 12-month high of $38.30.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, August 6th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $46.08 million. Freshpet had a negative net margin of 3.33% and a negative return on equity of 5.05%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) earnings per share. Analysts predict that Freshpet will post -0.05 earnings per share for the current fiscal year.
In other news, VP Stephen Macchiaverna sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 77,938 shares of the company’s stock, valued at approximately $2,571,954. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott James Morris sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $34.82, for a total value of $870,500.00. Following the transaction, the insider now directly owns 166,214 shares of the company’s stock, valued at $5,787,571.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,546 shares of company stock valued at $3,458,300. 5.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of Freshpet by 3.4% during the 2nd quarter. Northern Trust Corp now owns 454,434 shares of the company’s stock worth $12,474,000 after buying an additional 15,019 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Freshpet by 13.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 778,054 shares of the company’s stock worth $21,357,000 after buying an additional 91,592 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Freshpet during the 2nd quarter worth approximately $440,000. Caption Management LLC purchased a new position in shares of Freshpet during the 2nd quarter worth approximately $2,470,000. Finally, Manatuck Hill Partners LLC raised its stake in shares of Freshpet by 409.2% during the 2nd quarter. Manatuck Hill Partners LLC now owns 305,500 shares of the company’s stock worth $8,386,000 after buying an additional 245,500 shares in the last quarter. 74.62% of the stock is owned by institutional investors and hedge funds.
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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