Freshpet Inc (NASDAQ:FRPT) Director J David Basto Buys 6,400 Shares

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Freshpet Inc (NASDAQ:FRPT) Director J David Basto bought 6,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $38.61 per share, with a total value of $247,104.00. Following the purchase, the director now directly owns 23,721 shares of the company’s stock, valued at $915,867.81. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ:FRPT opened at $40.15 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.51 and a quick ratio of 1.00. Freshpet Inc has a 1-year low of $28.44 and a 1-year high of $51.85. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -267.67 and a beta of 1.11. The company has a fifty day moving average of $43.90.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.08). Freshpet had a negative net margin of 3.42% and a negative return on equity of 6.23%. The company had revenue of $60.10 million during the quarter, compared to analyst estimates of $59.59 million. During the same quarter last year, the business earned ($0.10) EPS. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, analysts anticipate that Freshpet Inc will post 0.04 EPS for the current year.

Several research analysts recently weighed in on the company. BidaskClub cut Freshpet from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. DA Davidson began coverage on Freshpet in a research report on Wednesday, June 19th. They issued a “buy” rating and a $60.00 price target for the company. ValuEngine lowered Freshpet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. began coverage on Freshpet in a research report on Tuesday, July 30th. They issued a “neutral” rating and a $46.00 price target for the company. Finally, SunTrust Banks decreased their price target on Freshpet to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $46.17.

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Freshpet by 749.2% in the 1st quarter. FMR LLC now owns 2,538,489 shares of the company’s stock worth $107,353,000 after acquiring an additional 2,239,553 shares in the last quarter. Invesco Ltd. lifted its stake in Freshpet by 254.8% in the 2nd quarter. Invesco Ltd. now owns 887,629 shares of the company’s stock worth $40,396,000 after acquiring an additional 637,442 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Freshpet in the 2nd quarter worth about $26,907,000. Carillon Tower Advisers Inc. purchased a new stake in Freshpet in the 2nd quarter worth about $24,958,000. Finally, Champlain Investment Partners LLC purchased a new stake in Freshpet in the 1st quarter worth about $21,016,000. Institutional investors and hedge funds own 89.31% of the company’s stock.

About Freshpet

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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