Freshpet Inc. (FRPT) Forecasted to Post Q3 2016 Earnings of $0.02 Per Share
Freshpet Inc. (NASDAQ:FRPT) – Equities researchers at DA Davidson issued their Q3 2016 earnings estimates for Freshpet in a note issued to investors on Tuesday. DA Davidson analyst E. Gottlieb anticipates that the brokerage will earn $0.02 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $10.00 target price on the stock. DA Davidson also issued estimates for Freshpet’s Q4 2016 earnings at $0.07 EPS, FY2016 earnings at ($0.05) EPS, Q1 2017 earnings at $0.03 EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.17 EPS.
A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Freshpet from a “hold” rating to a “strong sell” rating in a report on Wednesday. TheStreet cut shares of Freshpet from a “hold” rating to a “sell” rating in a report on Thursday, August 18th. Wedbush cut shares of Freshpet from an “outperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $11.00 in a report on Monday, August 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $10.00 target price on shares of Freshpet in a report on Monday, August 8th. Finally, Stephens raised shares of Freshpet from an “equal weight” rating to an “overweight” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.22.
Freshpet (NASDAQ:FRPT) opened at 8.74 on Friday. The company has a 50-day moving average of $9.65 and a 200-day moving average of $9.12. The stock’s market cap is $277.93 million. Freshpet has a 12 month low of $5.60 and a 12 month high of $11.81.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. The company had revenue of $33 million for the quarter, compared to analysts’ expectations of $32.92 million. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS.
In related news, CEO William B. Cyr bought 50,382 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $9.89 per share, for a total transaction of $498,277.98. Following the completion of the transaction, the chief executive officer now owns 27,919 shares in the company, valued at $276,118.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cathal Walsh sold 37,639 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $10.69, for a total transaction of $402,360.91. Following the transaction, the vice president now owns 130,898 shares of the company’s stock, valued at approximately $1,399,299.62. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
Several institutional investors have recently modified their holdings of FRPT. Franklin Resources Inc. raised its position in shares of Freshpet by 361.2% in the first quarter. Franklin Resources Inc. now owns 2,166,760 shares of the company’s stock worth $15,882,000 after buying an additional 1,696,958 shares in the last quarter. Geode Capital Management LLC raised its position in Freshpet by 3.6% in the first quarter. Geode Capital Management LLC now owns 121,710 shares of the company’s stock valued at $892,000 after buying an additional 4,177 shares during the period. Renaissance Technologies LLC acquired a new position in Freshpet during the first quarter valued at approximately $671,000. Bank of New York Mellon Corp raised its position in Freshpet by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 139,511 shares of the company’s stock valued at $1,302,000 after buying an additional 19,388 shares during the period. Finally, California State Teachers Retirement System raised its position in Freshpet by 6.5% in the second quarter. California State Teachers Retirement System now owns 46,845 shares of the company’s stock valued at $437,000 after buying an additional 2,876 shares during the period. Hedge funds and other institutional investors own 66.93% of the company’s stock.
Freshpet Company Profile
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 offers products consisting of dog food, cat food, and dog and cat treats.
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