Freshpet (NASDAQ:FRPT – Get Free Report) announced its earnings results on Monday. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10, Briefing.com reports. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The firm had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. Freshpet’s revenue was up 26.3% compared to the same quarter last year. Freshpet updated its FY 2024 guidance to EPS.
Freshpet Stock Up 2.4 %
NASDAQ:FRPT opened at $155.27 on Thursday. The business’s fifty day moving average price is $138.60 and its 200 day moving average price is $129.81. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 174.46 and a beta of 1.39. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. Freshpet has a 1-year low of $65.81 and a 1-year high of $157.10.
Analyst Ratings Changes
FRPT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson lifted their price objective on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America increased their target price on shares of Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.13.
Insiders Place Their Bets
In other news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.
Freshpet Company Profile
Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; 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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