Freshpet Inc. (NASDAQ:FRPT) – Equities research analysts 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 firm will post earnings per share of $0.02 for the quarter. DA Davidson has a “Neutral” rating and a $10.00 price objective 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.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.07. The company had revenue of $33 million for the quarter, compared to the consensus estimate of $32.92 million. Freshpet had a negative return on equity of 3.80% and a negative net margin of 3.12%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS.
Several other research analysts have also issued reports on FRPT. Zacks Investment Research upgraded Freshpet from a “strong sell” rating to a “hold” rating in a research report on Monday, August 8th. Wedbush lowered Freshpet from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $10.00 to $11.00 in a research report on Monday, August 15th. TheStreet downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Thursday, August 18th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $10.00 price objective (up previously from $9.00) on shares of Freshpet in a research note on Friday, July 15th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Freshpet in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Freshpet presently has a consensus rating of “Hold” and a consensus target price of $10.22.
Shares of Freshpet (NASDAQ:FRPT) opened at 8.74 on Friday. Freshpet has a 1-year low of $5.60 and a 1-year high of $11.81. The company’s market cap is $277.93 million. The stock’s 50 day moving average price is $9.65 and its 200 day moving average price is $9.12.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in Freshpet by 5.7% in the second quarter. American International Group Inc. now owns 12,860 shares of the company’s stock worth $120,000 after buying an additional 690 shares in the last quarter. Nationwide Fund Advisors increased its stake in Freshpet by 7.5% in the second quarter. Nationwide Fund Advisors now owns 14,298 shares of the company’s stock worth $133,000 after buying an additional 992 shares in the last quarter. Rhumbline Advisers increased its stake in Freshpet by 4.3% in the second quarter. Rhumbline Advisers now owns 20,700 shares of the company’s stock worth $193,000 after buying an additional 860 shares in the last quarter. US Bancorp DE bought a new stake in Freshpet during the second quarter worth about $278,000. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in Freshpet during the second quarter worth about $299,000. 66.93% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO William B. Cyr bought 50,382 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $9.89 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cathal Walsh sold 37,639 shares of Freshpet stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $10.69, for a total value of $402,360.91. Following the completion of the sale, the vice president now directly owns 130,898 shares in the company, valued at approximately $1,399,299.62. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
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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