Analysts expect Freshpet, Inc. (NASDAQ:FRPT) to post earnings of -$0.14 per share
Brokers expect Freshpet, Inc. (NASDAQ:FRPT) to report earnings per share ($0.14) for the current quarter, according to Zacks Investment Research. Seven analysts provided earnings estimates for Freshpet. The highest EPS estimate is ($0.06) and the lowest is ($0.21). Freshpet reported earnings of ($0.08) per share in the same quarter last year, which would indicate a negative 75% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, February 28.
On average, analysts expect Freshpet to report annual earnings of ($0.59) per share for the current fiscal year, with EPS estimates ranging from ($0.69) to ($0.42 $). For next year, analysts expect the company to post earnings of ($0.10) per share, with EPS estimates ranging from ($0.46) to $0.11. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts who follow Freshpet.
Freshpet Inc (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 8. The company reported ($0.05) earnings per share for the quarter, missing analyst consensus estimates of $0.07 per ($0.12). Freshpet had a negative net margin of 6.02% and a negative return on equity of 3.71%. The company posted revenue of $107.59 million for the quarter, compared to $114.31 million expected by analysts. During the same period last year, the company posted EPS of $0.09. The company’s revenue for the quarter increased by 27.8% compared to the same quarter last year.
Several research companies have recently commented on the FRPT. Goldman Sachs Group cut its price target on Freshpet from $154.00 to $121.00 and set a “neutral” rating for the company in a Friday, Dec. 3 report. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a Monday, Dec. 6, report. Cowen reduced its price target on Freshpet from $229.00 to $182.00 in a Monday, January 10 report. Credit Suisse Group cut its price target on Freshpet from $170.00 to $106.00 and set a “neutral” rating for the company in a Monday, Dec. 20 report. Finally, Stephens reduced its price target on Freshpet from $175.00 to $154.00 and set an “overweight” rating for the company in a Tuesday, November 9 report. Two research analysts rated the stock with a sell rating, two gave a hold rating and eight issued a buy rating for the company’s stock. According to MarketBeat, Freshpet currently has a consensus rating of “Buy” and an average price target of $153.36.
Shares of Freshpet opened at $86.83 on Friday. Freshpet has a 12 month minimum of $80.08 and a 12 month maximum of $186.98. The company has a fifty-day simple moving average of $100.28 and a two-hundred-day simple moving average of $128.29. The company has a market capitalization of $3.77 billion, a P/E ratio of -155.05 and a beta of 0.63.
In other Freshpet news, Executive Vice President Stephen Weise sold 4,000 shares of the company in a trade on Tuesday, November 16. The stock was sold at an average price of $129.13, for a total value of $516,520.00. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, manager Charles A. Norris purchased 5,000 shares in a trade on Monday, November 29. The shares were purchased at an average price of $110.03 per share, with a total value of $550,150.00. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 7,819 shares of the company worth $858,036. 5.80% of the shares are held by insiders.
Several hedge funds have recently changed their holdings in the company. Baillie Gifford & Co. increased its Freshpet equity stake by 75.0% in Q3. Baillie Gifford & Co. now owns 196 shares of the company worth $28,000 after purchasing an additional 84 shares during the period. Private Advisor Group LLC increased its stake in Freshpet shares by 2.2% during the 2nd quarter. Private Advisor Group LLC now owns 5,274 shares of the company worth $859,000 after buying 113 additional shares in the last quarter. Stephens Inc. AR increased its stake in Freshpet shares by 3.9% during Q3. Stephens Inc. AR now owns 4,078 shares of the company worth $582,000 after purchasing an additional 154 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Freshpet shares by 9.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,086 shares of the company worth $297,000 after purchasing an additional 179 shares in the last quarter. Finally, HighTower Advisors LLC increased its holding in Freshpet shares by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 3,196 shares of the company worth $456,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 95.92% of the company’s shares.
Freshpet Company Profile
Freshpet, Inc engages in the manufacturing, marketing and distribution of pet food and treats for dogs and cats. Its products are sold throughout the United States and Canada under the Freshpet Select, Vital and Nature’s Fresh brands. Its products include a grain-free fresh chicken recipe for dogs; Dog Joy turkey and apple treats for dogs; Nature’s Fresh Grain Free Chicken Recipe for Cats; and a vital grain-free chicken and whitefish recipe for cats.
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