Brokerages Expect Freshpet Inc (FRPT) Will Announce Quarterly Sales of $53.90 Million

Analysts expect Freshpet Inc (NASDAQ:FRPT) to post sales of $53.90 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Freshpet’s earnings, with the lowest sales estimate coming in at $52.60 million and the highest estimate coming in at $54.50 million. Freshpet posted sales of $43.17 million during the same quarter last year, which suggests a positive year over year growth rate of 24.9%. The business is expected to report its next earnings report on Monday, May 6th.

According to Zacks, analysts expect that Freshpet will report full year sales of $240.73 million for the current year, with estimates ranging from $240.10 million to $241.60 million. For the next fiscal year, analysts forecast that the business will report sales of $297.70 million, with estimates ranging from $289.90 million to $300.54 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Freshpet.

Freshpet (NASDAQ:FRPT) last released its earnings results on Tuesday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Freshpet had a negative return on equity of 4.60% and a negative net margin of 2.77%. The business had revenue of $51.64 million during the quarter, compared to the consensus estimate of $50.22 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year.

FRPT has been the topic of a number of research reports. SunTrust Banks boosted their target price on shares of Freshpet to $45.00 and gave the stock a “positive” rating in a report on Wednesday, January 16th. BidaskClub upgraded shares of Freshpet from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. Credit Suisse Group set a $36.00 target price on shares of Freshpet and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Imperial Capital reiterated an “in-line” rating and issued a $40.00 target price (up from $35.00) on shares of Freshpet in a report on Monday, March 4th. Finally, TheStreet upgraded shares of Freshpet from a “c+” rating to a “b” rating in a report on Tuesday, February 26th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Freshpet currently has an average rating of “Buy” and a consensus target price of $34.86.

Shares of NASDAQ FRPT traded up $0.95 during midday trading on Friday, reaching $40.96. The company’s stock had a trading volume of 219,300 shares, compared to its average volume of 288,404. Freshpet has a one year low of $15.67 and a one year high of $42.09. The company has a market capitalization of $1.46 billion, a P/E ratio of -273.07 and a beta of 1.35.

In other news, VP Stephen Macchiaverna sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the sale, the vice president now owns 90,860 shares in the company, valued at $3,634,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott James Morris sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $40.00, for a total transaction of $2,000,000.00. Following the sale, the insider now owns 181,298 shares in the company, valued at approximately $7,251,920. The disclosure for this sale can be found here. Insiders have sold 4,075,000 shares of company stock worth $157,280,000 in the last 90 days. 5.10% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Freshpet by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 284,670 shares of the company’s stock valued at $9,154,000 after purchasing an additional 20,604 shares during the last quarter. FMR LLC raised its stake in Freshpet by 110,208.5% during the 4th quarter. FMR LLC now owns 298,936 shares of the company’s stock valued at $9,614,000 after purchasing an additional 298,665 shares during the last quarter. Pathlight Investors LLC acquired a new position in Freshpet during the 4th quarter valued at $202,000. Millennium Management LLC acquired a new position in Freshpet during the 4th quarter valued at $2,379,000. Finally, Macquarie Group Ltd. acquired a new position in Freshpet during the 4th quarter valued at $246,000. Institutional investors and hedge funds own 75.45% of the company’s stock.

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.

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Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

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