Freshpet Inc. (FRPT) Shares Up 7.1%
Shares of Freshpet Inc. (NASDAQ:FRPT) shot up 7.1% during mid-day trading on Friday . The company traded as high as $10.35 and last traded at $10.14, with a volume of 104,908 shares changing hands. The stock had previously closed at $9.47.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. TheStreet upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. Robert W. Baird restated a “buy” rating on shares of Freshpet in a research note on Monday, May 16th. Credit Suisse Group AG restated a “hold” rating on shares of Freshpet in a research note on Monday, April 11th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Freshpet in a research note on Thursday, March 17th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Freshpet presently has a consensus rating of “Buy” and a consensus price target of $10.67.
The firm’s market capitalization is $321.18 million. The company has a 50-day moving average price of $9.43 and a 200-day moving average price of $7.94.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm earned $31.50 million during the quarter, compared to the consensus estimate of $31.48 million. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. On average, analysts forecast that Freshpet Inc. will post ($0.01) EPS for the current year.
In other Freshpet news, VP Stephen Macchiaverna sold 3,600 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $9.14, for a total transaction of $32,904.00. Following the completion of the sale, the vice president now owns 76,538 shares of the company’s stock, valued at $699,557.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mary Kathryn Winstanley sold 7,171 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $9.86, for a total value of $70,706.06. Following the sale, the vice president now directly owns 23,655 shares of the company’s stock, valued at approximately $233,238.30. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in FRPT. Morgan Stanley boosted its stake in shares of Freshpet by 398.7% in the fourth quarter. Morgan Stanley now owns 201,397 shares of the company’s stock worth $1,710,000 after buying an additional 161,012 shares during the last quarter. Boston Partners bought a new stake in shares of Freshpet during the fourth quarter worth about $3,144,000. Tricadia Capital Management LLC boosted its stake in shares of Freshpet by 81.4% in the fourth quarter. Tricadia Capital Management LLC now owns 689,477 shares of the company’s stock worth $5,854,000 after buying an additional 309,458 shares during the last quarter. Finally, Russell Frank Co bought a new stake in shares of Freshpet during the fourth quarter worth about $1,536,000.
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 offers products consisting of dog food, cat food, and dog and cat treats.
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