Freshpet Inc. (FRPT) Receives Average Rating of “Hold” from Analysts
Shares of Freshpet Inc. (NASDAQ:FRPT) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.00.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Wedbush reissued an “outperform” rating and set a $10.00 price target on shares of Freshpet in a research note on Friday, August 5th. Robert W. Baird reissued an “outperform” rating and set a $10.00 price target on shares of Freshpet in a research note on Monday, August 8th. TheStreet lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Thursday, August 18th. Finally, Stephens raised Freshpet from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 5th.
In related news, CEO William B. Cyr acquired 50,382 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $9.89 per share, for a total transaction of $498,277.98. Following the purchase, the chief executive officer now owns 27,919 shares in the company, valued at approximately $276,118.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary Kathryn Winstanley sold 7,920 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $10.01, for a total value of $79,279.20. Following the sale, the vice president now owns 24,404 shares in the company, valued at $244,284.04. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FRPT. Kayne Anderson Capital Advisors LP bought a new stake in Freshpet during the second quarter worth about $586,000. California State Teachers Retirement System raised its stake in Freshpet by 6.5% in the second quarter. California State Teachers Retirement System now owns 46,845 shares of the company’s stock worth $437,000 after buying an additional 2,876 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Freshpet during the second quarter worth about $2,180,000. Riverbridge Partners LLC raised its stake in Freshpet by 40.3% in the second quarter. Riverbridge Partners LLC now owns 2,552,253 shares of the company’s stock worth $23,813,000 after buying an additional 732,575 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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 worth $1,302,000 after buying an additional 19,388 shares during the last quarter. Institutional investors own 67.61% of the company’s stock.
Freshpet (NASDAQ:FRPT) traded up 0.57% on Thursday, hitting $8.75. The company had a trading volume of 36,115 shares. The firm has a 50-day moving average price of $8.67 and a 200-day moving average price of $9.36. The firm’s market capitalization is $296.14 billion. Freshpet has a 12-month low of $5.60 and a 12-month high of $11.81.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. Freshpet had a negative return on equity of 1.56% and a negative net margin of 1.25%. The firm had revenue of $34.50 million for the quarter, compared to analyst estimates of $35.57 million. During the same period last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Freshpet will post ($0.08) earnings per share for the current fiscal year.
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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