Freshpet, Inc. (FRPT) Expected to Post Quarterly Sales of $41.13 Million
Equities analysts forecast that Freshpet, Inc. (NASDAQ:FRPT) will post sales of $41.13 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Freshpet’s earnings, with the highest sales estimate coming in at $41.44 million and the lowest estimate coming in at $40.80 million. Freshpet reported sales of $34.54 million during the same quarter last year, which indicates a positive year over year growth rate of 19.1%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, November 6th.
According to Zacks, analysts expect that Freshpet will report full-year sales of $41.13 million for the current year, with estimates ranging from $156.20 million to $157.80 million. For the next year, analysts forecast that the company will post sales of $183.99 million per share, with estimates ranging from $179.50 million to $189.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Freshpet.
Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). The firm had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.09 million. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. Freshpet’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS.
A number of equities research analysts recently commented on the stock. Robert W. Baird set a $20.00 price target on shares of Freshpet and gave the stock a “buy” rating in a report on Sunday, October 15th. BidaskClub cut shares of Freshpet from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. boosted their target price on shares of Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, Susquehanna Bancshares Inc started coverage on shares of Freshpet in a report on Monday, October 2nd. They set a “neutral” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.07.
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Freshpet (NASDAQ FRPT) opened at 15.55 on Friday. The stock’s 50 day moving average price is $15.68 and its 200-day moving average price is $15.06. The company’s market cap is $494.49 million. Freshpet has a 52 week low of $7.60 and a 52 week high of $18.25.
In other news, CFO Richard A. Kassar sold 23,239 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total value of $371,824.00. Following the transaction, the chief financial officer now owns 208,971 shares of the company’s stock, valued at $3,343,536. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott James Morris sold 2,101 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $15.80, for a total transaction of $33,195.80. Following the completion of the transaction, the insider now directly owns 204,408 shares in the company, valued at approximately $3,229,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 40,954 shares of company stock worth $653,704 in the last three months. Insiders own 6.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after purchasing an additional 103 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Freshpet by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock worth $1,145,000 after purchasing an additional 380 shares during the period. Citadel Advisors LLC increased its holdings in shares of Freshpet by 4.0% in the second quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock worth $321,000 after purchasing an additional 750 shares during the period. American International Group Inc. increased its holdings in shares of Freshpet by 7.1% in the first quarter. American International Group Inc. now owns 13,762 shares of the company’s stock worth $151,000 after purchasing an additional 917 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Freshpet by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock worth $343,000 after purchasing an additional 1,144 shares during the period. 66.81% of the stock is currently 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’s products consist of dog food, cat food, and dog and cat treats.
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