Freshpet, Inc. (NASDAQ:FRPT) – Analysts at Imperial Capital upped their Q3 2018 earnings per share (EPS) estimates for shares of Freshpet in a note issued to investors on Wednesday. Imperial Capital analyst G. Kelly now anticipates that the company will earn $0.09 per share for the quarter, up from their previous estimate of $0.08. Imperial Capital has a “In-Line” rating and a $16.50 price target on the stock. Imperial Capital also issued estimates for Freshpet’s Q4 2018 earnings at $0.13 EPS, FY2018 earnings at $0.07 EPS and FY2019 earnings at $0.23 EPS.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.09 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.44%. Freshpet’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) EPS. TRADEMARK VIOLATION WARNING: This story was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://stocknewstimes.com/2017/08/12/freshpet-inc-forecasted-to-earn-q3-2018-earnings-of-0-09-per-share-nasdaqfrpt.html.
A number of other equities research analysts have also recently issued reports on FRPT. Credit Suisse Group upped their price objective on shares of Freshpet from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. Zacks Investment Research cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. ValuEngine raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price target (up previously from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. Finally, BidaskClub cut shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Freshpet presently has a consensus rating of “Hold” and an average price target of $15.69.
Freshpet (FRPT) remained flat at $15.30 during trading on Thursday. 227,661 shares of the company’s stock traded hands. The company has a 50 day moving average of $16.50 and a 200-day moving average of $13.40. Freshpet has a one year low of $7.60 and a one year high of $18.25. The firm’s market capitalization is $486.54 million.
A number of hedge funds and other institutional investors have recently modified their holdings of FRPT. Alliancebernstein L.P. raised its position in shares of Freshpet by 10.2% in the second quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock valued at $42,124,000 after buying an additional 233,847 shares during the period. JPMorgan Chase & Co. raised its position in shares of Freshpet by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 1,376,118 shares of the company’s stock valued at $15,137,000 after buying an additional 48,258 shares during the period. Vanguard Group Inc. raised its position in shares of Freshpet by 3.6% in the second quarter. Vanguard Group Inc. now owns 1,095,224 shares of the company’s stock valued at $18,181,000 after buying an additional 37,762 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Freshpet during the second quarter valued at approximately $12,863,000. Finally, Emerald Advisers Inc. PA raised its position in shares of Freshpet by 17.5% in the second quarter. Emerald Advisers Inc. PA now owns 676,504 shares of the company’s stock valued at $11,230,000 after buying an additional 100,918 shares during the period. Institutional investors and hedge funds own 65.49% of the company’s stock.
In other Freshpet news, CFO Richard A. Kassar sold 15,125 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 215,119 shares of the company’s stock, valued at approximately $3,282,715.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William B. Cyr purchased 7,300 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $13.75 per share, with a total value of $100,375.00. Following the transaction, the chief executive officer now directly owns 75,532 shares in the company, valued at $1,038,565. The disclosure for this purchase can be found here. Corporate insiders own 8.20% of the company’s stock.
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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