Q3 2017 EPS Estimates for Freshpet, Inc. Decreased by Analyst (NASDAQ:FRPT)
Freshpet, Inc. (NASDAQ:FRPT) – Equities research analysts at William Blair dropped their Q3 2017 earnings per share (EPS) estimates for shares of Freshpet in a research report issued on Monday. William Blair analyst J. Andersen now expects that the company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.02. William Blair also issued estimates for Freshpet’s FY2018 earnings at $0.10 EPS.
Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $39.97 million during the quarter, compared to analyst estimates of $38.09 million. Freshpet had a negative return on equity of 3.46% and a negative net margin of 2.57%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) earnings per share.
Other analysts have also recently issued reports about the stock. SunTrust Banks, Inc. increased their price target on shares of Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Imperial Capital initiated coverage on shares of Freshpet in a research note on Thursday, July 20th. They issued an “in-line” rating and a $16.50 price objective on the stock. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective (up from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Credit Suisse Group raised their price objective on shares of Freshpet from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. Finally, Zacks Investment Research raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Freshpet has a consensus rating of “Hold” and a consensus price target of $15.69.
Shares of Freshpet (NASDAQ FRPT) opened at 16.55 on Wednesday. Freshpet has a 52-week low of $7.60 and a 52-week high of $18.25. The firm’s market capitalization is $526.29 million. The firm has a 50-day moving average price of $16.45 and a 200-day moving average price of $13.13.
A number of institutional investors have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Freshpet during the second quarter worth about $12,863,000. Bank of New York Mellon Corp boosted its position in shares of Freshpet by 306.2% in the first quarter. Bank of New York Mellon Corp now owns 531,700 shares of the company’s stock worth $5,849,000 after buying an additional 400,805 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Freshpet during the first quarter worth $2,891,000. Russell Investments Group Ltd. boosted its position in shares of Freshpet by 130.4% in the second quarter. Russell Investments Group Ltd. now owns 369,545 shares of the company’s stock worth $6,135,000 after buying an additional 209,186 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Freshpet by 9.9% in the first quarter. Alliancebernstein L.P. now owns 2,303,739 shares of the company’s stock worth $25,341,000 after buying an additional 208,052 shares in the last quarter. 65.49% of the stock is currently owned by hedge funds and other institutional investors.
In other Freshpet news, CEO William B. Cyr acquired 7,300 shares of Freshpet stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $13.75 per share, with a total value of $100,375.00. Following the completion of the purchase, the chief executive officer now owns 75,532 shares in the company, valued at $1,038,565. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott James Morris sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $16.73, for a total transaction of $83,650.00. Following the completion of the transaction, the insider now directly owns 207,307 shares in the company, valued at $3,468,246.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,125 shares of company stock worth $385,458. Insiders own 8.20% of the company’s stock.
Freshpet Company Profile
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’s products consist of dog food, cat food, and dog and cat treats.
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