Freshpet Inc (NASDAQ:FRPT) – Oppenheimer Holdings reduced their FY2017 earnings per share (EPS) estimates for Freshpet in a note issued to investors on Tuesday, according to Zacks Investment Research. Oppenheimer Holdings analyst R. Parikh now forecasts that the company will post earnings per share of ($0.08) for the year, down from their prior forecast of $0.04.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, March 9th. The company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Freshpet had a negative net margin of 1.25% and a negative return on equity of 1.56%. The business earned $34.06 million during the quarter, compared to analysts’ expectations of $34.18 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Freshpet’s revenue was up 12.8% compared to the same quarter last year.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th. Robert W. Baird set a $13.00 target price on Freshpet and gave the stock a “buy” rating in a research report on Saturday, March 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Freshpet has an average rating of “Hold” and a consensus price target of $10.75.
In related news, CEO William B. Cyr acquired 17,850 shares of the stock in a transaction on Tuesday, March 14th. The stock was purchased at an average price of $11.07 per share, for a total transaction of $197,599.50. Following the completion of the transaction, the chief executive officer now owns 68,232 shares of the company’s stock, valued at approximately $755,328.24. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FRPT. Armistice Capital LLC increased its stake in shares of Freshpet by 53.2% in the fourth quarter. Armistice Capital LLC now owns 1,416,000 shares of the company’s stock valued at $14,372,000 after buying an additional 492,000 shares during the last quarter. Emerald Advisers Inc. PA increased its stake in shares of Freshpet by 28.3% in the third quarter. Emerald Advisers Inc. PA now owns 674,325 shares of the company’s stock valued at $5,833,000 after buying an additional 148,603 shares during the last quarter. State Street Corp increased its stake in shares of Freshpet by 7.8% in the fourth quarter. State Street Corp now owns 323,264 shares of the company’s stock valued at $3,281,000 after buying an additional 23,391 shares during the last quarter. Fort Point Capital Partners LLC increased its stake in shares of Freshpet by 143.7% in the third quarter. Fort Point Capital Partners LLC now owns 190,802 shares of the company’s stock valued at $1,650,000 after buying an additional 112,497 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Freshpet during the fourth quarter valued at $1,563,000. Hedge funds and other institutional investors own 63.84% of the company’s stock.
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.
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