Zacks Investment Research upgraded shares of Freshpet Inc (NASDAQ:FRPT) from a hold rating to a buy rating in a research report report published on Monday, July 24th. Zacks Investment Research currently has $20.00 target price on the stock.
According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “
Several other research analysts have also weighed in on FRPT. Credit Suisse Group upped their target price on shares of Freshpet from $10.00 to $12.00 and gave the stock a neutral rating in a research report on Friday, May 5th. ValuEngine upgraded shares of Freshpet from a sell rating to a hold rating in a research report on Friday, June 2nd. Imperial Capital initiated coverage on shares of Freshpet in a research report on Thursday, July 20th. They set an in-line rating and a $16.50 target price on the stock. They noted that the move was a valuation call. Finally, Stifel Nicolaus restated a buy rating and set a $20.00 target price (up from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $15.69.
Freshpet (NASDAQ:FRPT) remained flat at $15.30 during midday trading on Monday. 140,150 shares of the stock traded hands. The stock’s 50 day moving average price is $16.52 and its 200 day moving average price is $13.36. The firm’s market capitalization is $486.54 million. Freshpet has a 12-month low of $7.60 and a 12-month high of $18.25.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.01. The firm had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $38.09 million. Freshpet had a negative return on equity of 9.93% and a negative net margin of 6.64%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share. On average, equities analysts expect that Freshpet will post ($0.08) earnings per share for the current fiscal year.
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In other Freshpet news, CEO William B. Cyr purchased 7,300 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $100,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,532 shares of the company’s stock, valued at $1,038,565. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard A. Kassar sold 15,125 shares of the company’s stock in a transaction that occurred on 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 approximately $3,282,715.94. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Emerald Advisers Inc. PA increased its position in shares of Freshpet by 30.4% in the first quarter. Emerald Advisers Inc. PA now owns 575,586 shares of the company’s stock valued at $6,331,000 after buying an additional 134,308 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Freshpet during the fourth quarter valued at about $1,563,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Freshpet during the first quarter valued at about $183,000. Investment House LLC purchased a new position in shares of Freshpet during the second quarter valued at about $1,244,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Freshpet during the first quarter valued at about $2,891,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.
About Freshpet
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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