William Blair Weighs in on Freshpet, Inc.’s Q3 2017 Earnings (NASDAQ:FRPT)
Freshpet, Inc. (NASDAQ:FRPT) – Equities research analysts at William Blair decreased their Q3 2017 EPS estimates for shares of Freshpet in a research note issued on Monday. William Blair analyst J. Andersen now expects that the company will earn ($0.01) per share for the quarter, down from their previous estimate of $0.02. William Blair also issued estimates for Freshpet’s FY2018 earnings at $0.10 EPS.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks, Inc. raised their target price on Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Imperial Capital assumed coverage on Freshpet in a research note on Thursday, July 20th. They issued an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. Stifel Nicolaus restated 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. Finally, Credit Suisse Group raised their target price on Freshpet from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.69.
COPYRIGHT VIOLATION WARNING: This piece was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/10/william-blair-weighs-in-on-freshpet-inc-s-q3-2017-earnings-nasdaqfrpt.html.
Shares of Freshpet (NASDAQ FRPT) opened at 15.90 on Wednesday. Freshpet has a 12-month low of $7.60 and a 12-month high of $18.25. The company’s market cap is $505.62 million. The stock’s 50 day moving average price is $16.50 and its 200 day moving average price is $13.20.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The firm 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 3.46%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after buying an additional 103 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Freshpet during the first quarter worth about $122,000. American International Group Inc. boosted its position in shares of Freshpet by 7.1% in the first quarter. American International Group Inc. now owns 13,762 shares of the company’s stock worth $151,000 after buying an additional 917 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Freshpet during the first quarter worth about $155,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Freshpet during the first quarter worth about $183,000. Institutional investors and hedge funds own 65.49% of the company’s stock.
In other Freshpet news, insider Scott James Morris sold 5,000 shares of Freshpet stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $16.73, for a total transaction of $83,650.00. Following the completion of the transaction, the insider now owns 207,307 shares in the company, valued at $3,468,246.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William B. Cyr acquired 7,300 shares of the stock in a transaction on Thursday, May 18th. The shares were bought at an average price of $13.75 per share, with a total value of $100,375.00. Following the purchase, the chief executive officer now directly owns 75,532 shares of the company’s stock, valued at approximately $1,038,565. The disclosure for this purchase can be found here. Insiders have sold 25,125 shares of company stock valued at $385,458 in the last quarter. 8.20% of the stock is owned by company insiders.
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’s products consist of dog food, cat food, and dog and cat treats.
Receive News & Stock Ratings for Freshpet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshpet Inc. and related stocks with our FREE daily email newsletter.