Freshpet Inc (NASDAQ:FRPT) – Analysts at Oppenheimer dropped their FY2019 earnings estimates for Freshpet in a research report issued on Monday, May 6th, according to Zacks Investment Research. Oppenheimer analyst R. Parikh now anticipates that the company will post earnings per share of $0.14 for the year, down from their previous estimate of $0.17. Oppenheimer also issued estimates for Freshpet’s Q4 2019 earnings at $0.18 EPS.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $54.80 million for the quarter, compared to the consensus estimate of $54.28 million. Freshpet had a negative return on equity of 4.46% and a negative net margin of 2.57%. The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share.
Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 target price for the company in a report on Monday, May 6th. BidaskClub raised Freshpet from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. TheStreet lowered Freshpet from a “b” rating to a “c” rating in a report on Monday, April 1st. Credit Suisse Group set a $36.00 target price on Freshpet and gave the company a “neutral” rating in a report on Tuesday, March 5th. Finally, Imperial Capital reaffirmed an “in-line” rating and issued a $40.00 target price (up from $35.00) on shares of Freshpet in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $40.00.
FRPT traded down $0.02 during midday trading on Thursday, reaching $46.47. 228,241 shares of the company were exchanged, compared to its average volume of 240,713. The firm has a market capitalization of $1.67 billion, a P/E ratio of -309.80 and a beta of 1.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 1.08. Freshpet has a one year low of $22.22 and a one year high of $48.47.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRPT. Advisor Group Inc. lifted its position in shares of Freshpet by 1,008.8% during the first quarter. Advisor Group Inc. now owns 632 shares of the company’s stock worth $26,000 after acquiring an additional 575 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Freshpet during the fourth quarter worth $58,000. We Are One Seven LLC purchased a new stake in shares of Freshpet during the fourth quarter worth $103,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Freshpet during the first quarter worth $120,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Freshpet during the first quarter worth $140,000. 86.75% of the stock is owned by institutional investors and hedge funds.
In other Freshpet news, insider Scott James Morris sold 50,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the insider now directly owns 181,298 shares of the company’s stock, valued at $7,251,920. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Associates Spc Midocean sold 4,000,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $38.57, for a total value of $154,280,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,075,000 shares of company stock valued at $157,280,000. 5.10% of the stock is owned by corporate insiders.
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.