Freshpet (FRPT) PT Raised to $35.00

Freshpet (NASDAQ:FRPT) had its price objective hoisted by Imperial Capital from $18.00 to $35.00 in a research report report published on Tuesday, Marketbeat.com reports. The brokerage currently has an in-line rating on the stock. Imperial Capital also issued estimates for Freshpet’s Q4 2018 earnings at $0.10 EPS, FY2018 earnings at ($0.10) EPS, Q1 2019 earnings at ($0.01) EPS, Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.23 EPS and FY2020 earnings at $0.61 EPS.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Freshpet from a hold rating to a buy rating and set a $32.00 target price on the stock in a report on Wednesday, July 18th. BidaskClub lowered shares of Freshpet from a strong-buy rating to a buy rating in a report on Friday, November 2nd. Stifel Nicolaus increased their price target on shares of Freshpet from $27.00 to $33.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Credit Suisse Group increased their price target on shares of Freshpet from $26.00 to $32.00 and gave the stock a hold rating in a report on Monday, August 13th. Finally, Robert W. Baird increased their price target on shares of Freshpet from $27.00 to $35.00 and gave the stock an outperform rating in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $29.57.

Freshpet stock traded down $0.55 during midday trading on Tuesday, reaching $36.38. 6,148 shares of the stock were exchanged, compared to its average volume of 311,098. The firm has a market capitalization of $1.22 billion, a PE ratio of -303.25 and a beta of 1.55. Freshpet has a 52 week low of $15.67 and a 52 week high of $40.58.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The firm had revenue of $47.60 million for the quarter, compared to the consensus estimate of $46.08 million. Freshpet had a negative return on equity of 4.88% and a negative net margin of 3.07%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. As a group, research analysts anticipate that Freshpet will post -0.09 earnings per share for the current year.

In other news, CFO Richard A. Kassar sold 20,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $33.85, for a total value of $677,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Scott James Morris sold 3,512 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $37.75, for a total transaction of $132,578.00. Following the completion of the transaction, the chief operating officer now directly owns 173,672 shares in the company, valued at approximately $6,556,118. The disclosure for this sale can be found here. Insiders sold a total of 76,096 shares of company stock worth $2,639,500 in the last three months. Insiders own 5.10% of the company’s stock.

Several large investors have recently modified their holdings of FRPT. Barclays PLC boosted its stake in shares of Freshpet by 130.3% in the 1st quarter. Barclays PLC now owns 9,283 shares of the company’s stock valued at $153,000 after purchasing an additional 5,253 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Freshpet in the 3rd quarter valued at $206,000. Wedge Capital Management L L P NC purchased a new stake in shares of Freshpet in the 2nd quarter valued at $217,000. IFG Advisory LLC purchased a new stake in shares of Freshpet in the 3rd quarter valued at $234,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Freshpet in the 2nd quarter valued at $263,000. 72.97% of the stock is currently owned by hedge funds and other institutional investors.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Further Reading: Earnings Per Share

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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