Freshpet’s (FRPT) Buy Rating Reaffirmed at Robert W. Baird
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Freshpet from a hold rating to a sell rating in a research report on Wednesday, November 8th. BidaskClub upgraded shares of Freshpet from a hold rating to a buy rating in a research report on Friday, December 22nd. Susquehanna Bancshares started coverage on shares of Freshpet in a research report on Monday, October 2nd. They issued a neutral rating and a $15.00 target price for the company. Stifel Nicolaus reiterated a buy rating on shares of Freshpet in a research report on Friday, December 15th. Finally, Credit Suisse Group increased their target price on shares of Freshpet from $15.00 to $17.00 and gave the stock a neutral rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Freshpet has a consensus rating of Hold and a consensus price target of $18.64.
Shares of Freshpet (NASDAQ FRPT) traded up $0.05 during trading hours on Wednesday, hitting $18.75. 107,324 shares of the company traded hands, compared to its average volume of 146,492. The stock has a market cap of $653.64, a P/E ratio of -133.92 and a beta of 1.97. Freshpet has a fifty-two week low of $9.25 and a fifty-two week high of $20.50.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $41.20 million during the quarter, compared to the consensus estimate of $41.19 million. Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. research analysts predict that Freshpet will post -0.11 EPS for the current fiscal year.
In related news, VP Stephen Macchiaverna sold 4,946 shares of Freshpet stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $17.34, for a total transaction of $85,763.64. Following the completion of the transaction, the vice president now directly owns 77,884 shares of the company’s stock, valued at approximately $1,350,508.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard A. Kassar sold 10,000 shares of Freshpet stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $18.93, for a total transaction of $189,300.00. Following the transaction, the chief financial officer now directly owns 209,994 shares of the company’s stock, valued at $3,975,186.42. The disclosure for this sale can be found here. Insiders have sold a total of 68,218 shares of company stock valued at $1,211,499 over the last ninety days. 6.80% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its holdings in Freshpet by 1.4% during the 2nd 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 last quarter. Voya Investment Management LLC bought a new position in shares of Freshpet in the second quarter worth about $188,000. Brighton Jones LLC bought a new position in shares of Freshpet in the third quarter worth about $232,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Freshpet in the second quarter worth about $252,000. Finally, Citadel Advisors LLC raised its stake in shares of Freshpet by 4.0% in the second quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock worth $321,000 after acquiring an additional 750 shares during the last quarter. 69.77% of the stock is owned by hedge funds and other institutional investors.
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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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