Shares of Freshpet Inc. (NASDAQ:FRPT) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.43.
Several research firms recently weighed in on FRPT. DA Davidson began coverage on Freshpet in a report on Wednesday, October 5th. They set a “neutral” rating and a $10.00 price target for the company. Zacks Investment Research cut Freshpet from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 5th. TheStreet cut Freshpet from a “hold” rating to a “sell” rating in a report on Thursday, August 18th. Wedbush cut Freshpet from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $11.00 in a report on Monday, August 15th. Finally, Robert W. Baird reissued an “outperform” rating and set a $10.00 price target on shares of Freshpet in a report on Monday, August 8th.
Freshpet (NASDAQ:FRPT) remained flat at $8.65 during trading on Thursday. The company’s stock had a trading volume of 30,987 shares. The firm has a 50-day moving average of $9.49 and a 200 day moving average of $9.15. Freshpet has a 12-month low of $5.60 and a 12-month high of $11.81. The stock’s market capitalization is $275.07 million.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.07. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. The business earned $33 million during the quarter, compared to analyst estimates of $32.92 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts predict that Freshpet will post ($0.11) earnings per share for the current year.
In other news, insider Scott James Morris sold 22,315 shares of Freshpet stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $10.64, for a total value of $237,431.60. Following the transaction, the insider now owns 225,045 shares in the company, valued at approximately $2,394,478.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Cathal Walsh sold 37,639 shares of Freshpet stock in a transaction on 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 transaction, the vice president now 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 insiders.
Several institutional investors have recently modified their holdings of the stock. 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 valued at $15,882,000 after buying an additional 1,696,958 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Freshpet by 3.6% in the first quarter. Geode Capital Management LLC now owns 121,710 shares of the company’s stock worth $892,000 after buying an additional 4,177 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Freshpet during the first quarter worth $671,000. Bank of New York Mellon Corp raised its stake in shares of 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 in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of 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 in the last quarter. Institutional investors own 66.94% of the company’s stock.
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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