Freshpet Inc. (FRPT) to Post Q3 2016 Earnings of $0.02 Per Share, DA Davidson Forecasts
Freshpet Inc. (NASDAQ:FRPT) – Stock analysts at DA Davidson issued their Q3 2016 earnings per share (EPS) estimates for shares of Freshpet in a research report issued on Tuesday. DA Davidson analyst E. Gottlieb expects that the firm will earn $0.02 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $10.00 target price on the stock. DA Davidson also issued estimates for Freshpet’s Q4 2016 earnings at $0.07 EPS, FY2016 earnings at ($0.05) EPS, Q1 2017 earnings at $0.03 EPS, Q2 2017 earnings at $0.03 EPS, Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.17 EPS.
A number of other brokerages also recently issued reports on FRPT. Stephens upgraded Freshpet from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 5th. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Wedbush downgraded Freshpet from an “outperform” rating to a “neutral” rating and raised their target price for the company from $10.00 to $11.00 in a research report on Monday, August 15th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $10.00 target price (up previously from $9.00) on shares of Freshpet in a research report on Friday, July 15th. Finally, TheStreet downgraded Freshpet from a “hold” rating to a “sell” rating in a research report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Freshpet currently has a consensus rating of “Hold” and an average target price of $10.22.
Freshpet (NASDAQ:FRPT) traded down 0.23% during trading on Friday, reaching $8.54. The company had a trading volume of 48,423 shares. Freshpet has a 52 week low of $5.60 and a 52 week high of $11.81. The company’s 50-day moving average is $9.69 and its 200 day moving average is $9.12. The firm’s market capitalization is $271.57 million.
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Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, August 4th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. The company had revenue of $33 million for the quarter, compared to the consensus estimate of $32.92 million. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS.
In related news, CEO William B. Cyr purchased 50,382 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $9.89 per share, with a total value of $498,277.98. Following the completion of the acquisition, the chief executive officer now owns 27,919 shares in the company, valued at $276,118.91. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen Macchiaverna sold 10,052 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $10.76, for a total value of $108,159.52. Following the completion of the sale, the vice president now directly owns 77,938 shares of the company’s stock, valued at approximately $838,612.88. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of FRPT. American International Group Inc. boosted its stake in Freshpet by 5.7% in the second quarter. American International Group Inc. now owns 12,860 shares of the company’s stock valued at $120,000 after buying an additional 690 shares during the period. Nationwide Fund Advisors boosted its stake in Freshpet by 7.5% in the second quarter. Nationwide Fund Advisors now owns 14,298 shares of the company’s stock valued at $133,000 after buying an additional 992 shares during the period. Rhumbline Advisers boosted its stake in Freshpet by 4.3% in the second quarter. Rhumbline Advisers now owns 20,700 shares of the company’s stock valued at $193,000 after buying an additional 860 shares during the period. US Bancorp DE acquired a new stake in Freshpet during the second quarter valued at about $278,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new stake in Freshpet during the second quarter valued at about $299,000. 66.93% of the stock is owned by hedge funds and other institutional investors.
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 offers products consisting of dog food, cat food, and dog and cat treats.
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