Zacks Investment Research downgraded shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research note published on Monday morning.
According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “
FRPT has been the topic of several other reports. BidaskClub cut Freshpet from a buy rating to a hold rating in a research note on Thursday, December 28th. Stifel Nicolaus restated a buy rating on shares of Freshpet in a research note on Friday, December 15th. Imperial Capital restated an in-line rating and set a $18.00 price objective (up from $16.50) on shares of Freshpet in a research note on Friday. Robert W. Baird restated a buy rating and set a $22.00 price objective on shares of Freshpet in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group raised their price objective on Freshpet from $17.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $19.71.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, March 5th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Freshpet had a negative net margin of 2.73% and a negative return on equity of 3.85%. The company had revenue of $40.70 million for the quarter, compared to the consensus estimate of $41.14 million. During the same quarter last year, the business posted $0.04 earnings per share. Freshpet’s revenue was up 19.4% on a year-over-year basis. sell-side analysts expect that Freshpet will post -0.01 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Freshpet by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock worth $343,000 after purchasing an additional 1,144 shares during the period. Brighton Jones LLC raised its stake in shares of Freshpet by 31.9% during the 4th quarter. Brighton Jones LLC now owns 19,526 shares of the company’s stock worth $370,000 after purchasing an additional 4,723 shares during the period. Harvest Capital Strategies LLC raised its stake in shares of Freshpet by 3.2% during the 4th quarter. Harvest Capital Strategies LLC now owns 253,000 shares of the company’s stock worth $4,794,000 after purchasing an additional 7,900 shares during the period. Voya Investment Management LLC bought a new stake in shares of Freshpet during the 2nd quarter worth $188,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Freshpet by 2.1% during the 4th quarter. Driehaus Capital Management LLC now owns 564,250 shares of the company’s stock worth $10,693,000 after purchasing an additional 11,361 shares during the period. Institutional investors own 73.96% of the company’s stock.
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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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