Freshpet, Inc. to Post Q3 2017 Earnings of ($0.02) Per Share, SunTrust Banks Forecasts (FRPT)
Freshpet, Inc. (NASDAQ:FRPT) – SunTrust Banks cut their Q3 2017 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 estimate of $0.01. SunTrust Banks has a “Buy” rating and a $20.00 price objective on the stock. SunTrust Banks also issued estimates for Freshpet’s Q4 2017 earnings at $0.07 EPS.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.09 million. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business earned ($0.10) EPS.
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A number of other equities analysts also recently commented on FRPT. ValuEngine upgraded Freshpet from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group upped their target price on Freshpet from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, June 16th. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Imperial Capital started coverage on Freshpet in a report on Thursday, July 20th. They set an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. Finally, Stifel Nicolaus restated a “buy” rating and set a $20.00 target price (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 assigned a buy rating to the stock. Freshpet presently has an average rating of “Hold” and an average price target of $16.36.
Shares of Freshpet (NASDAQ:FRPT) opened at 14.50 on Friday. The firm’s market cap is $461.10 million. Freshpet has a 52-week low of $7.60 and a 52-week high of $18.25. The company has a 50-day moving average of $15.93 and a 200 day moving average of $14.33.
Hedge funds have recently modified their holdings of the stock. Emerald Mutual Fund Advisers Trust grew its stake in Freshpet by 60.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 421,819 shares of the company’s stock worth $7,002,000 after purchasing an additional 159,040 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Freshpet in the first quarter worth $183,000. Investment House LLC purchased a new stake in Freshpet in the second quarter worth $1,244,000. KBC Group NV grew its stake in Freshpet by 250.4% in the first quarter. KBC Group NV now owns 36,717 shares of the company’s stock worth $404,000 after purchasing an additional 26,238 shares during the period. Finally, Bank of America Corp DE grew its stake in Freshpet by 4.9% in the first quarter. Bank of America Corp DE now owns 295,409 shares of the company’s stock worth $3,250,000 after purchasing an additional 13,852 shares during the period. 66.81% of the stock is currently owned by institutional investors.
In related news, CFO Richard A. Kassar sold 8,977 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $16.00, for a total value of $143,632.00. Following the sale, the chief financial officer now directly owns 208,971 shares of the company’s stock, valued at $3,343,536. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard A. Kassar sold 23,239 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $16.00, for a total value of $371,824.00. Following the completion of the sale, the chief financial officer now directly owns 208,971 shares in the company, valued at $3,343,536. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,954 shares of company stock worth $653,704. 6.80% of the stock is owned by insiders.
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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