Freshpet, Inc. (NASDAQ:FRPT) Downgraded by BidaskClub
BidaskClub downgraded shares of Freshpet, Inc. (NASDAQ:FRPT) from a hold rating to a sell rating in a research note published on Saturday morning.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Freshpet from a hold rating to a sell rating in a research note on Monday, May 8th. ValuEngine upgraded shares of Freshpet from a sell rating to a hold rating in a research note on Friday, June 2nd. Imperial Capital started coverage on shares of Freshpet in a research note on Thursday, July 20th. They set an in-line rating and a $16.50 target price for the company. They noted that the move was a valuation call. Credit Suisse Group raised their target price on shares of Freshpet from $10.00 to $12.00 and gave the stock a neutral rating in a research note on Friday, May 5th. Finally, Stifel Nicolaus restated a buy rating and set a $20.00 target price (up previously from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $15.69.
Freshpet (NASDAQ:FRPT) opened at 15.95 on Friday. The company’s market cap is $507.21 million. Freshpet has a 12-month low of $7.60 and a 12-month high of $18.25. The stock’s 50 day moving average is $16.48 and its 200 day moving average is $13.46.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.09 million. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, equities analysts forecast that Freshpet will post ($0.08) earnings per share for the current year.
In related news, CFO Richard A. Kassar sold 15,125 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.26, for a total transaction of $230,807.50. Following the transaction, the chief financial officer now directly owns 215,119 shares of the company’s stock, valued at $3,282,715.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott James Morris sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $16.73, for a total transaction of $83,650.00. Following the transaction, the insider now directly owns 207,307 shares in the company, valued at $3,468,246.11. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Freshpet by 18.1% in the second quarter. State Street Corp now owns 385,641 shares of the company’s stock worth $6,401,000 after buying an additional 58,972 shares in the last quarter. Voya Investment Management LLC acquired a new position in Freshpet during the second quarter worth approximately $188,000. Citadel Advisors LLC raised its position in Freshpet by 4.0% in the second quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock worth $321,000 after buying an additional 750 shares in the last quarter. EAM Investors LLC acquired a new position in Freshpet during the second quarter worth approximately $1,036,000. Finally, Vanguard Group Inc. raised its position in Freshpet by 3.6% in the second 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 in the last quarter. 63.86% of the stock is currently owned by institutional investors and hedge funds.
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.
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