Freshpet, Inc. (NASDAQ:FRPT) – Research analysts at William Blair decreased their FY2017 earnings estimates for shares of Freshpet in a research note issued on Monday. William Blair analyst J. Andersen now forecasts that the company will post earnings per share of ($0.08) for the year, down from their prior forecast of ($0.07). William Blair also issued estimates for Freshpet’s Q4 2017 earnings at $0.07 EPS and FY2018 earnings at $0.06 EPS.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The business had revenue of $41.20 million during the quarter, compared to analyst estimates of $41.19 million. During the same quarter last year, the business earned $0.02 earnings per share. Freshpet’s quarterly revenue was up 19.4% compared to the same quarter last year.
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Several other equities analysts have also commented on the stock. Imperial Capital started coverage on shares of Freshpet in a research report on Thursday, July 20th. They set an “in-line” rating and a $16.50 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price (up previously from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Robert W. Baird set a $20.00 target price on shares of Freshpet and gave the company a “buy” rating in a research note on Sunday, October 15th. Finally, BidaskClub downgraded shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $18.36.
Freshpet (FRPT) opened at $17.40 on Thursday. Freshpet has a 12-month low of $8.25 and a 12-month high of $18.25.
In other news, CFO Richard A. Kassar sold 23,239 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total value of $371,824.00. Following the sale, the chief financial officer now owns 208,971 shares of the company’s stock, valued at $3,343,536. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott James Morris sold 2,101 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $15.80, for a total transaction of $33,195.80. Following the completion of the sale, the insider now directly owns 204,408 shares in the company, valued at approximately $3,229,646.40. The disclosure for this sale can be found here. In the last three months, insiders sold 40,954 shares of company stock worth $653,704. Insiders own 6.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its stake in Freshpet by 10.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock worth $42,124,000 after buying an additional 233,847 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in Freshpet by 117.1% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,682,510 shares of the company’s stock worth $26,331,000 after buying an additional 907,644 shares during the period. Vanguard Group Inc. increased its stake in Freshpet by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,095,224 shares of the company’s stock worth $18,181,000 after buying an additional 37,762 shares during the period. JPMorgan Chase & Co. increased its stake in Freshpet by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock worth $16,573,000 after buying an additional 73,182 shares during the period. Finally, Emerald Advisers Inc. PA increased its stake in Freshpet by 27.1% in the 3rd quarter. Emerald Advisers Inc. PA now owns 860,124 shares of the company’s stock worth $13,461,000 after buying an additional 183,620 shares during the period. 68.07% of the stock is currently owned by institutional investors.
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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