Freshpet Inc (FRPT) Expected to Announce Earnings of $0.10 Per Share
Wall Street brokerages expect Freshpet Inc (NASDAQ:FRPT) to post $0.10 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Freshpet’s earnings, with estimates ranging from $0.08 to $0.11. Freshpet reported earnings per share of $0.04 in the same quarter last year, which suggests a positive year over year growth rate of 150%. The business is expected to report its next earnings report on Monday, March 4th.
On average, analysts expect that Freshpet will report full year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.12) to ($0.08). For the next year, analysts expect that the firm will post earnings of $0.21 per share, with EPS estimates ranging from $0.15 to $0.28. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Freshpet.
A number of analysts have commented on FRPT shares. Stifel Nicolaus upped their price objective on shares of Freshpet from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Credit Suisse Group boosted their target price on Freshpet from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. BidaskClub lowered Freshpet from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Imperial Capital boosted their target price on Freshpet from $18.00 to $35.00 and gave the company an “in-line” rating in a research note on Tuesday, November 6th. Finally, Zacks Investment Research lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.57.
In other Freshpet news, COO Scott James Morris sold 3,512 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $37.75, for a total transaction of $132,578.00. Following the completion of the transaction, the chief operating officer now owns 173,672 shares of the company’s stock, valued at approximately $6,556,118. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Freshpet by 12.1% during the third quarter. BlackRock Inc. now owns 1,883,174 shares of the company’s stock valued at $69,112,000 after buying an additional 203,367 shares during the period. Vanguard Group Inc. raised its position in Freshpet by 5.0% in the third quarter. Vanguard Group Inc. now owns 1,452,872 shares of the company’s stock valued at $53,320,000 after purchasing an additional 69,768 shares during the last quarter. Bank of New York Mellon Corp raised its position in Freshpet by 13.3% in the second quarter. Bank of New York Mellon Corp now owns 778,054 shares of the company’s stock valued at $21,357,000 after purchasing an additional 91,592 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Freshpet by 2.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 759,292 shares of the company’s stock valued at $27,866,000 after purchasing an additional 20,057 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Freshpet by 40.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 702,128 shares of the company’s stock valued at $19,273,000 after purchasing an additional 202,128 shares during the last quarter. 73.03% of the stock is owned by hedge funds and other institutional investors.
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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