Zacks: Brokerages Anticipate Freshpet, Inc. (FRPT) Will Announce Earnings of $0.06 Per Share
Equities research analysts forecast that Freshpet, Inc. (NASDAQ:FRPT) will report earnings of $0.06 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Freshpet’s earnings, with estimates ranging from $0.02 to $0.11. Freshpet reported earnings of $0.04 per share in the same quarter last year, which suggests a positive year over year growth rate of 50%. The business is scheduled to announce its next earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Freshpet will report full year earnings of ($0.11) per share for the current fiscal year, with EPS estimates ranging from ($0.15) to ($0.05). For the next financial year, analysts forecast that the business will report earnings of $0.06 per share, with EPS estimates ranging from ($0.02) to $0.22. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Freshpet.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The company had revenue of $41.20 million during the quarter, compared to analysts’ expectations of $41.19 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Freshpet’s quarterly revenue was up 19.4% compared to the same quarter last year.
A number of research analysts have recently issued reports on the stock. BidaskClub cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. SunTrust Banks, Inc. lifted their target price on shares of Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Credit Suisse Group lifted their target price on shares of Freshpet from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Susquehanna Bancshares Inc assumed coverage on shares of Freshpet in a research note on Monday, October 2nd. They issued a “neutral” rating and a $15.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.36.
In related news, VP Stephen Macchiaverna sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $15.81, for a total value of $94,860.00. Following the completion of the transaction, the vice president now owns 78,938 shares in the company, valued at approximately $1,248,009.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard A. Kassar sold 8,977 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.00, for a total transaction of $143,632.00. Following the completion of the transaction, the chief financial officer now owns 208,971 shares of the company’s stock, valued at approximately $3,343,536. The disclosure for this sale can be found here. Insiders sold a total of 40,954 shares of company stock valued at $653,704 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Freshpet by 28.1% in the 3rd quarter. Wells Fargo & Company MN now owns 177,505 shares of the company’s stock worth $2,778,000 after purchasing an additional 38,915 shares during the last quarter. JPMorgan Chase & Co. raised its position in Freshpet by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock worth $16,573,000 after purchasing an additional 73,182 shares during the last quarter. Brighton Jones LLC bought a new position in Freshpet in the 3rd quarter worth approximately $232,000. EAM Investors LLC raised its position in Freshpet by 74.7% in the 3rd quarter. EAM Investors LLC now owns 109,008 shares of the company’s stock worth $1,706,000 after purchasing an additional 46,599 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Freshpet by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 625,759 shares of the company’s stock worth $9,793,000 after purchasing an additional 25,805 shares during the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.
Freshpet (NASDAQ FRPT) traded up $0.40 during trading hours on Wednesday, hitting $17.40. 437,200 shares of the stock were exchanged, compared to its average volume of 197,824. Freshpet has a 52 week low of $8.25 and a 52 week high of $18.25.
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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