Q3 2018 EPS Estimates for Freshpet, Inc. (FRPT) Lowered by SunTrust Banks
Freshpet, Inc. (NASDAQ:FRPT) – Analysts at SunTrust Banks dropped their Q3 2018 earnings per share (EPS) estimates for Freshpet in a research note issued to investors on Tuesday. SunTrust Banks analyst W. Chappell now expects that the company will earn $0.02 per share for the quarter, down from their prior forecast of $0.05. SunTrust Banks has a “Buy” rating and a $20.00 price objective on the stock. SunTrust Banks also issued estimates for Freshpet’s Q4 2018 earnings at $0.11 EPS.
A number of other equities analysts have also commented on FRPT. ValuEngine upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group boosted their price objective on shares of Freshpet from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, June 16th. Zacks Investment Research lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Imperial Capital initiated coverage on shares of Freshpet in a report 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. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective (up previously from $14.00) on shares of Freshpet in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.36.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $39.97 million during the quarter, compared to analysts’ expectations of $38.09 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.44%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS.
In other news, insider Scott James Morris sold 2,101 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $15.80, for a total value of $33,195.80. Following the completion of the sale, the insider now owns 204,408 shares of the company’s stock, valued at approximately $3,229,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen Macchiaverna sold 6,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $15.81, for a total transaction of $94,860.00. Following the completion of the sale, the vice president now directly owns 78,938 shares of the company’s stock, valued at approximately $1,248,009.78. The disclosure for this sale can be found here. Insiders sold a total of 40,954 shares of company stock valued at $653,704 in the last three months. Insiders own 6.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Freshpet by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after purchasing an additional 103 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Freshpet by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock worth $1,145,000 after purchasing an additional 380 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Freshpet by 1.2% in the 4th quarter. Teachers Advisors LLC now owns 34,476 shares of the company’s stock worth $350,000 after purchasing an additional 396 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Freshpet by 4.0% in the 2nd quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock worth $321,000 after purchasing an additional 750 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Freshpet by 7.1% in the 1st quarter. American International Group Inc. now owns 13,762 shares of the company’s stock worth $151,000 after purchasing an additional 917 shares during the last quarter. 66.81% of the stock is owned by institutional investors.
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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