Freshpet Inc. to Post Q3 2016 Earnings of $0.02 Per Share, DA Davidson Forecasts (FRPT)
Freshpet Inc. (NASDAQ:FRPT) – Equities researchers at DA Davidson issued their Q3 2016 earnings per share (EPS) estimates for shares of Freshpet in a note issued to investors on Tuesday. DA Davidson analyst E. Gottlieb anticipates that the brokerage will earn $0.02 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $10.00 target price on the stock. DA Davidson also issued estimates for Freshpet’s Q4 2016 earnings at $0.07 EPS, FY2016 earnings at ($0.05) EPS, Q1 2017 earnings at $0.03 EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.17 EPS.
A number of other equities research analysts have also recently commented on FRPT. Zacks Investment Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a research note on Monday, August 8th. Wedbush cut shares of Freshpet from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $11.00 in a research note on Monday, August 15th. TheStreet cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Thursday, August 18th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $10.00 price objective (up previously from $9.00) on shares of Freshpet in a research note on Friday, July 15th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Freshpet in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.22.
Shares of Freshpet (NASDAQ:FRPT) opened at 8.74 on Friday. The company’s 50-day moving average is $9.65 and its 200-day moving average is $9.12. The stock’s market cap is $277.93 million. Freshpet has a 1-year low of $5.60 and a 1-year high of $11.81.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings results 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 business had revenue of $33 million for the quarter, compared to analysts’ expectations of $32.92 million. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. Freshpet’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS.
In other news, CEO William B. Cyr acquired 50,382 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $9.89 per share, for a total transaction of $498,277.98. Following the acquisition, the chief executive officer now owns 27,919 shares of the company’s stock, valued at approximately $276,118.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen Macchiaverna sold 10,052 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $10.76, for a total value of $108,159.52. Following the completion of the transaction, the vice president now owns 77,938 shares in the company, valued at approximately $838,612.88. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its position in shares of Freshpet by 5.7% in the second quarter. American International Group Inc. now owns 12,860 shares of the company’s stock worth $120,000 after buying an additional 690 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Freshpet by 7.5% in the second quarter. Nationwide Fund Advisors now owns 14,298 shares of the company’s stock worth $133,000 after buying an additional 992 shares during the last quarter. Rhumbline Advisers raised its position in shares of Freshpet by 4.3% in the second quarter. Rhumbline Advisers now owns 20,700 shares of the company’s stock worth $193,000 after buying an additional 860 shares during the last quarter. US Bancorp DE purchased a new position in shares of Freshpet during the second quarter worth $278,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in shares of Freshpet during the second quarter worth $299,000. Institutional investors 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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