Freshpet (FRPT) Cut to Hold at ValuEngine

ValuEngine lowered shares of Freshpet (NASDAQ:FRPT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

A number of other equities research analysts have also issued reports on FRPT. Oppenheimer reiterated a hold rating on shares of Freshpet in a research note on Friday, December 1st. TheStreet raised Freshpet from a d+ rating to a c- rating in a report on Thursday, November 30th. BidaskClub downgraded Freshpet from a buy rating to a hold rating in a report on Friday, December 15th. Stifel Nicolaus reissued a buy rating on shares of Freshpet in a report on Friday, December 15th. Finally, Robert W. Baird reissued a buy rating and issued a $22.00 price target on shares of Freshpet in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Freshpet presently has an average rating of Hold and a consensus target price of $19.71.

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Shares of Freshpet (FRPT) opened at $16.55 on Friday. Freshpet has a 12 month low of $10.55 and a 12 month high of $20.85. The stock has a market capitalization of $581.55, a PE ratio of -118.21 and a beta of 1.56.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $41.14 million. During the same quarter last year, the business posted $0.04 EPS. Freshpet’s quarterly revenue was up 19.4% compared to the same quarter last year. research analysts expect that Freshpet will post -0.01 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Freshpet in the fourth quarter valued at about $246,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Freshpet in the fourth quarter valued at about $311,000. California Public Employees Retirement System purchased a new position in Freshpet in the fourth quarter valued at about $357,000. Brighton Jones LLC lifted its holdings in 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 buying an additional 4,723 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 buying an additional 1,144 shares during the last quarter. 73.37% of the stock is owned by hedge funds and other institutional investors.

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About Freshpet

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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