Freshpet Inc. (FRPT) Trading Up 7.1%
Shares of Freshpet Inc. (NASDAQ:FRPT) were up 7.1% during trading on Friday . The company traded as high as $10.35 and last traded at $10.14, with a volume of 104,908 shares traded. The stock had previously closed at $9.47.
A number of analysts have recently commented on FRPT shares. Zacks Investment Research raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Thursday, April 21st. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Freshpet in a research note on Monday, April 11th. Robert W. Baird reaffirmed a “buy” rating on shares of Freshpet in a research note on Monday, May 16th. Goldman Sachs Group Inc. cut shares of Freshpet from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $9.00 in a research note on Thursday, March 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 price objective (up previously from $9.00) on shares of Freshpet in a research note on Thursday, March 10th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $10.67.
The stock’s market cap is $322.61 million. The firm’s 50-day moving average is $9.38 and its 200-day moving average is $7.92.
Freshpet (NASDAQ:FRPT) last released its earnings results on Wednesday, May 4th. The company reported ($0.05) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). During the same quarter last year, the business posted ($0.08) EPS. The firm earned $31.50 million during the quarter, compared to analyst estimates of $31.48 million. The firm’s revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that Freshpet Inc. will post ($0.01) earnings per share for the current fiscal year.
In related news, VP Mary Kathryn Winstanley sold 7,171 shares of the firm’s 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 $233,238.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 3,600 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 76,538 shares of the company’s stock, valued at approximately $699,557.32. The disclosure for this sale can be found here.
Other hedge funds recently made changes to their positions in the company. Russell Frank Co bought a new stake in shares of Freshpet during the fourth quarter valued at approximately $1,536,000. 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 valued at $1,710,000 after buying an additional 161,012 shares during the period. Boston Partners bought a new stake in shares of Freshpet during the fourth quarter valued at approximately $3,144,000. Finally, 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 valued at $5,854,000 after buying an additional 309,458 shares during the period.
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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