Freshpet Inc. (FRPT) Receives New Coverage from Analysts at DA Davidson
Analysts at DA Davidson initiated coverage on shares of Freshpet Inc. (NASDAQ:FRPT) in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. The brokerage set a “neutral” rating and a $10.00 price target on the stock. DA Davidson’s price objective points to a potential upside of 14.94% from the stock’s previous close.
A number of other research firms also 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 set a $10.00 target price on shares of Freshpet in a research report on Monday, August 8th. Wedbush downgraded Freshpet from an “outperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $11.00 in a research report on Monday, August 15th. TheStreet lowered Freshpet from a “hold” rating to a “sell” rating in a report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $10.00 price target (up previously from $9.00) on shares of Freshpet in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $10.22.
Shares of Freshpet (NASDAQ:FRPT) opened at 8.70 on Wednesday. The company’s market cap is $276.66 million. The company has a 50-day moving average of $9.79 and a 200 day moving average of $9.12. Freshpet has a 12-month low of $5.60 and a 12-month high of $11.81.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, August 4th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $33 million for the quarter, compared to the consensus estimate of $32.92 million. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts expect that Freshpet will post ($0.12) EPS for the current year.
In other Freshpet news, VP Stephen Macchiaverna sold 10,052 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $10.76, for a total value of $108,159.52. Following the sale, the vice president now owns 77,938 shares in the company, valued at $838,612.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Mary Kathryn Winstanley sold 7,920 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $10.01, for a total value of $79,279.20. Following the completion of the sale, the vice president now owns 24,404 shares in the company, valued at approximately $244,284.04. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in shares of Freshpet by 77.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 59,462 shares of the company’s stock valued at $555,000 after buying an additional 25,998 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Freshpet during the second quarter valued at approximately $3,912,000. Parametric Portfolio Associates LLC raised its position in shares of Freshpet by 4.9% in the second quarter. Parametric Portfolio Associates LLC now owns 346,457 shares of the company’s stock valued at $3,232,000 after buying an additional 16,293 shares in the last quarter. UBS Oconnor LLC raised its position in shares of Freshpet by 42.1% in the second quarter. UBS Oconnor LLC now owns 451,165 shares of the company’s stock valued at $4,209,000 after buying an additional 133,693 shares in the last quarter. Finally, State Street Corp raised its position in shares of Freshpet by 5.7% in the second quarter. State Street Corp now owns 292,591 shares of the company’s stock valued at $2,732,000 after buying an additional 15,771 shares in the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.
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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