Robert W. Baird reaffirmed their buy rating on shares of Freshpet (NASDAQ:FRPT) in a research report report published on Wednesday morning. The firm currently has a $22.00 price objective on the stock.
Several other research analysts have also commented on the company. Credit Suisse Group boosted their price target on Freshpet from $15.00 to $17.00 and gave the stock a neutral rating in a research report on Tuesday, November 7th. Zacks Investment Research lowered Freshpet from a hold rating to a sell rating in a research report on Wednesday, November 8th. TheStreet raised Freshpet from a d+ rating to a c- rating in a research report on Thursday, November 30th. Stifel Nicolaus reissued a buy rating on shares of Freshpet in a research report on Friday, December 15th. Finally, BidaskClub lowered Freshpet from a buy rating to a hold rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $18.64.
Shares of Freshpet (NASDAQ FRPT) opened at $18.75 on Wednesday. Freshpet has a 1-year low of $9.25 and a 1-year high of $20.50. The firm has a market capitalization of $651.90, a price-to-earnings ratio of -133.92 and a beta of 1.97.
Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The business had revenue of $41.20 million during the quarter, compared to analysts’ expectations of $41.19 million. During the same period in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. analysts expect that Freshpet will post -0.11 EPS for the current year.
In other news, COO Scott James Morris sold 10,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $17.20, for a total value of $172,000.00. Following the transaction, the chief operating officer now directly owns 212,307 shares of the company’s stock, valued at $3,651,680.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 4,946 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $17.34, for a total value of $85,763.64. Following the completion of the transaction, the vice president now directly owns 77,884 shares in the company, valued at $1,350,508.56. The disclosure for this sale can be found here. Insiders have sold a total of 68,218 shares of company stock worth $1,211,499 over the last ninety days. 6.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock valued at $122,000 after purchasing an additional 103 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Freshpet by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock valued at $1,145,000 after purchasing an additional 380 shares during the period. Citadel Advisors LLC increased its holdings in shares of Freshpet by 4.0% in the second quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock valued at $321,000 after purchasing an additional 750 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Freshpet by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock valued at $343,000 after purchasing an additional 1,144 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Freshpet by 6.9% in the second quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock valued at $419,000 after purchasing an additional 1,640 shares during the period. 69.77% of the stock is currently owned by institutional investors and hedge funds.
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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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