Oppenheimer Reaffirms “Hold” Rating for Freshpet (FRPT)
Several other research analysts have also issued reports on FRPT. BidaskClub lowered shares of Freshpet from a buy rating to a hold rating in a research note on Friday, August 4th. SunTrust Banks raised their target price on shares of Freshpet from $15.00 to $20.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Freshpet from a buy rating to a hold rating in a research note on Wednesday, August 9th. Susquehanna Bancshares started coverage on shares of Freshpet in a research note on Monday, October 2nd. They issued a neutral rating and a $15.00 target price on the stock. Finally, Robert W. Baird set a $20.00 target price on shares of Freshpet and gave the company a buy rating in a research note on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $18.36.
Freshpet (NASDAQ:FRPT) opened at $18.75 on Friday. Freshpet has a one year low of $8.90 and a one year high of $19.10.
Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $41.20 million for the quarter, compared to analyst estimates of $41.19 million. Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. research analysts expect that Freshpet will post -0.11 earnings per share for the current fiscal year.
In related news, VP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $15.81, for a total transaction of $94,860.00. Following the transaction, the vice president now owns 78,938 shares of the company’s stock, valued at approximately $1,248,009.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard A. Kassar sold 15,125 shares of Freshpet stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $17.92, for a total transaction of $271,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,319 shares of company stock worth $1,150,255 in the last three months. 6.80% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in Freshpet by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after buying an additional 103 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Freshpet during the 1st quarter worth approximately $122,000. American International Group Inc. raised its holdings in Freshpet by 7.1% during the 1st quarter. American International Group Inc. now owns 13,762 shares of the company’s stock worth $151,000 after buying an additional 917 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in Freshpet during the 1st quarter worth approximately $155,000. Finally, Voya Investment Management LLC acquired a new stake in Freshpet during the 2nd quarter worth approximately $188,000. Hedge funds and other institutional investors own 69.77% of the company’s stock.
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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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