Freshpet Inc. (FRPT) Trading 24.6% Higher
Freshpet Inc. (NASDAQ:FRPT) shares traded up 24.6% during mid-day trading on Friday . The company traded as high as $11.81 and last traded at $10.29, with a volume of 1,025,449 shares trading hands. The stock had previously closed at $8.26.
A number of research analysts recently issued reports on the company. Stephens upgraded Freshpet from an “equal weight” rating to an “overweight” rating in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $10.00 target price on shares of Freshpet in a research note on Friday. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $10.00 price target (up previously from $9.00) on shares of Freshpet in a research report on Friday, July 15th. Finally, TheStreet raised Freshpet from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $10.78.
The firm has a 50 day moving average of $9.51 and a 200 day moving average of $8.13. The firm’s market capitalization is $337.08 million.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.07. The company had revenue of $33 million for the quarter, compared to analysts’ expectations of $32.92 million. During the same period in the previous year, the company earned ($0.07) EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, analysts forecast that Freshpet Inc. will post ($0.02) EPS for the current year.
In other Freshpet news, VP Stephen Macchiaverna sold 3,600 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $9.14, for a total transaction of $32,904.00. Following the completion of the transaction, the vice president now owns 76,538 shares of the company’s stock, valued at approximately $699,557.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mary Kathryn Winstanley sold 7,171 shares of the business’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $9.86, for a total transaction of $70,706.06. Following the transaction, 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.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Broadview Advisors LLC raised its position in Freshpet by 1.9% in the fourth quarter. Broadview Advisors LLC now owns 339,028 shares of the company’s stock worth $2,878,000 after buying an additional 6,450 shares in the last quarter. Boston Partners purchased a new position in Freshpet during the fourth quarter worth $3,144,000. Finally, Russell Frank Co purchased a new position in Freshpet during the fourth quarter worth $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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