Freshpet (NASDAQ:FRPT) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research report sent to investors on Tuesday, January 9th.

Several other research firms have also issued reports on FRPT. TheStreet upgraded shares of Freshpet from a d+ rating to a c- rating in a research report on Thursday, November 30th. Zacks Investment Research lowered shares of Freshpet from a hold rating to a sell rating in a research report on Wednesday, November 8th. Susquehanna Bancshares started coverage on shares of Freshpet in a research report on Monday, October 2nd. They set a neutral rating and a $15.00 price target for the company. Oppenheimer reiterated a hold rating on shares of Freshpet in a report on Friday, December 1st. Finally, Robert W. Baird set a $20.00 target price on shares of Freshpet and gave the stock a buy rating in a report on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Freshpet currently has a consensus rating of Hold and a consensus target price of $18.64.

Freshpet (NASDAQ:FRPT) traded up $0.25 on Tuesday, reaching $18.65. The company had a trading volume of 102,352 shares, compared to its average volume of 157,568. The company has a market capitalization of $658.99, a PE ratio of -143.46 and a beta of 1.97. Freshpet has a 1-year low of $9.25 and a 1-year high of $20.50.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the 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 period in the prior year, the business posted $0.02 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. research analysts predict that Freshpet will post -0.11 EPS for the current fiscal year.

In other Freshpet news, insider Scott James Morris sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $18.71, for a total transaction of $46,775.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard A. Kassar sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $18.93, for a total transaction of $189,300.00. Following the transaction, the chief financial officer now directly owns 209,994 shares of the company’s stock, valued at approximately $3,975,186.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,218 shares of company stock valued at $1,211,499. 6.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its stake in shares of Freshpet by 10.2% during the second quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock valued at $42,124,000 after purchasing an additional 233,847 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Freshpet by 117.1% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,682,510 shares of the company’s stock valued at $26,331,000 after purchasing an additional 907,644 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Freshpet by 3.6% during the second quarter. Vanguard Group Inc. now owns 1,095,224 shares of the company’s stock valued at $18,181,000 after purchasing an additional 37,762 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Freshpet by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock valued at $16,573,000 after purchasing an additional 73,182 shares in the last quarter. Finally, Emerald Advisers Inc. PA increased its position in shares of Freshpet by 27.1% during the third quarter. Emerald Advisers Inc. PA now owns 860,124 shares of the company’s stock valued at $13,461,000 after acquiring an additional 183,620 shares in the last quarter. 69.77% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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