Freshpet Inc. (FRPT) Sees Large Volume Increase
Freshpet Inc. (NASDAQ:FRPT) saw an uptick in trading volume on Monday . 378,558 shares traded hands during mid-day trading, an increase of 51% from the previous session’s volume of 250,833 shares.The stock last traded at $10.59 and had previously closed at $10.59.
Several research firms recently commented on FRPT. Zacks Investment Research upgraded Freshpet from a “strong sell” rating to a “hold” rating in a research report on Monday, August 8th. Robert W. Baird reiterated an “outperform” rating and issued a $10.00 price target on shares of Freshpet in a research report on Monday, August 8th. Wedbush lowered Freshpet from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $11.00 in a research report on Monday. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $10.00 price target (up previously from $9.00) on shares of Freshpet in a research report on Friday, July 15th. Finally, TheStreet upgraded Freshpet from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.56.
The firm’s 50 day moving average is $9.80 and its 200-day moving average is $8.38. The company’s market capitalization is $326.27 million.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.10) earnings per share for the quarter, missing the 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 business posted ($0.07) EPS. The firm’s revenue was up 16.4% on a year-over-year basis. On average, analysts expect that Freshpet Inc. will post ($0.11) EPS for the current fiscal year.
In other Freshpet news, VP Mary Kathryn Winstanley sold 7,171 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $9.86, for a total value of $70,706.06. Following the completion of the sale, the vice president now owns 23,655 shares in the company, valued at approximately $233,238.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen Macchiaverna sold 10,052 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $10.76, for a total transaction of $108,159.52. Following the completion of the sale, the vice president now owns 77,938 shares of the company’s stock, valued at approximately $838,612.88. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Freshpet stock. Broadview Advisors LLC raised its position in shares of Freshpet Inc. (NASDAQ:FRPT) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 339,028 shares of the company’s stock after buying an additional 6,450 shares during the period. Broadview Advisors LLC owned approximately 1.07% of Freshpet worth $2,878,000 at the end of the most recent quarter.
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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