A number of other research firms have also recently weighed in on FRPT. DA Davidson assumed coverage on shares of Freshpet in a research report on Wednesday, June 19th. They issued a buy rating and a $60.00 price objective for the company. Zacks Investment Research cut shares of Freshpet from a buy rating to a hold rating in a research report on Wednesday, August 7th. SunTrust Banks reduced their price target on shares of Freshpet to $45.00 and set a neutral rating on the stock in a research report on Tuesday, August 6th. They noted that the move was a valuation call. ValuEngine cut shares of Freshpet from a strong-buy rating to a buy rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Freshpet in a research report on Tuesday, July 30th. They set a neutral rating and a $46.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Freshpet currently has an average rating of Hold and a consensus price target of $46.17.
NASDAQ:FRPT opened at $41.16 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.51 and a quick ratio of 1.00. The firm has a 50-day moving average of $43.75 and a two-hundred day moving average of $43.23. The stock has a market cap of $1.47 billion, a P/E ratio of -274.40 and a beta of 1.11. Freshpet has a 1-year low of $28.44 and a 1-year high of $51.85.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The firm had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $59.59 million. Freshpet had a negative net margin of 3.42% and a negative return on equity of 6.23%. The business’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) earnings per share. As a group, equities analysts expect that Freshpet will post 0.04 earnings per share for the current year.
In related news, EVP Stephen Weise sold 5,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $47.50, for a total transaction of $237,500.00. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at $237,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott James Morris sold 49,766 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $47.79, for a total transaction of $2,378,317.14. Following the sale, the insider now owns 170,232 shares in the company, valued at approximately $8,135,387.28. The disclosure for this sale can be found here. Insiders have sold 174,104 shares of company stock worth $8,335,030 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRPT. HM Payson & Co. acquired a new stake in shares of Freshpet in the second quarter valued at approximately $50,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Freshpet during the second quarter valued at approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Freshpet by 21.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after acquiring an additional 363 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of Freshpet during the first quarter valued at approximately $120,000. Finally, SG Americas Securities LLC acquired a new position in shares of Freshpet during the first quarter valued at approximately $140,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
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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