Imperial Capital Weighs in on Freshpet, Inc.’s Q3 2018 Earnings (FRPT)
Freshpet, Inc. (NASDAQ:FRPT) – Equities research analysts at Imperial Capital upped their Q3 2018 earnings per share estimates for Freshpet in a report issued on Wednesday. Imperial Capital analyst G. Kelly now anticipates that the company will post earnings of $0.09 per share for the quarter, up from their prior estimate of $0.08. Imperial Capital has a “In-Line” rating and a $16.50 price objective on the stock. Imperial Capital also issued estimates for Freshpet’s Q4 2018 earnings at $0.13 EPS, FY2018 earnings at $0.07 EPS and FY2019 earnings at $0.23 EPS.
Other analysts have also recently issued research reports about the company. Credit Suisse Group lifted their price objective on Freshpet from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, June 16th. ValuEngine raised Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research cut Freshpet from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub cut Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective (up previously from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.69.
Freshpet (NASDAQ:FRPT) traded down 4.40% during mid-day trading on Thursday, hitting $15.20. The company had a trading volume of 94,878 shares. The company’s 50 day moving average price is $16.53 and its 200-day moving average price is $13.35. Freshpet has a one year low of $7.60 and a one year high of $18.25. The company’s market cap is $483.36 million.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.09 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.46%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS.
In other news, insider Scott James Morris sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $16.73, for a total value of $83,650.00. Following the completion of the transaction, the insider now owns 207,307 shares in the company, valued at approximately $3,468,246.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard A. Kassar sold 15,125 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.26, for a total value of $230,807.50. Following the completion of the transaction, the chief financial officer now owns 215,119 shares of the company’s stock, valued at approximately $3,282,715.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,125 shares of company stock valued at $385,458. Corporate insiders own 8.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its stake in shares of Freshpet by 10.2% in the second quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock valued at $42,124,000 after buying an additional 233,847 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Freshpet by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 1,376,118 shares of the company’s stock valued at $15,137,000 after buying an additional 48,258 shares during the period. Vanguard Group Inc. increased its stake in shares of Freshpet by 4.1% in the first quarter. Vanguard Group Inc. now owns 1,057,462 shares of the company’s stock valued at $11,631,000 after buying an additional 41,545 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Freshpet during the second quarter valued at about $12,863,000. Finally, Emerald Advisers Inc. PA increased its stake in shares of Freshpet by 17.5% in the second quarter. Emerald Advisers Inc. PA now owns 676,504 shares of the company’s stock valued at $11,230,000 after buying an additional 100,918 shares during the period. Institutional investors own 65.49% of the company’s stock.
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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