Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Freshpet from a buy rating to a hold rating in a research report on Tuesday, July 5th. TheStreet upgraded Freshpet from a sell rating to a hold rating in a research report on Monday, June 20th. Wedbush cut Freshpet from an outperform rating to a neutral rating and raised their price target for the company from $10.00 to $11.00 in a research report on Monday, August 15th. Goldman Sachs Group Inc. restated a neutral rating and issued a $10.00 price target (up previously from $9.00) on shares of Freshpet in a research report on Friday, July 15th. Finally, Robert W. Baird restated an outperform rating and issued a $10.00 price target on shares of Freshpet in a research report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $10.22.
Freshpet (NASDAQ:FRPT) opened at 8.75 on Wednesday. Freshpet has a 12-month low of $5.60 and a 12-month high of $11.81. The stock’s 50 day moving average price is $9.60 and its 200-day moving average price is $9.16. The stock’s market capitalization is $278.25 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 Thomson Reuters’ consensus estimate of ($0.03) by $0.07. The business earned $33 million during the quarter, compared to analysts’ expectations of $32.92 million. Freshpet had a negative return on equity of 3.80% and a negative net margin of 3.12%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. Analysts expect that Freshpet will post ($0.11) earnings per share for the current year.
In other Freshpet news, VP Stephen Macchiaverna sold 10,052 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $10.76, for a total value of $108,159.52. Following the sale, the vice president now directly owns 77,938 shares of the company’s stock, valued at approximately $838,612.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William B. Cyr purchased 50,382 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was acquired at an average cost of $9.89 per share, for a total transaction of $498,277.98. Following the completion of the purchase, the chief executive officer now owns 27,919 shares in the company, valued at approximately $276,118.91. The disclosure for this purchase can be found here. Corporate insiders own 8.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. American International Group Inc. raised its stake in shares of 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 during the last quarter. Nationwide Fund Advisors raised its stake in shares of 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 during the last quarter. Rhumbline Advisers raised its stake in shares of 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 during the last quarter. US Bancorp DE acquired a new stake in shares of Freshpet during the second quarter worth about $278,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Freshpet during the second quarter worth about $299,000. 66.94% of the stock is currently owned by hedge funds and other institutional investors.
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 offers products consisting of dog food, cat food, and dog and cat treats.
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