Freshpet (FRPT) Upgraded at TheStreet

Freshpet (NASDAQ:FRPT) was upgraded by stock analysts at TheStreet from a “d+” rating to a “c-” rating in a research report issued on Thursday.

Several other equities analysts have also recently commented on the company. Oppenheimer reaffirmed a “hold” rating on shares of Freshpet in a report on Friday. BidaskClub cut Freshpet from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research cut Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. SunTrust Banks upped their price target on Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, Susquehanna Bancshares assumed coverage on Freshpet in a report on Monday, October 2nd. They issued a “neutral” rating and a $15.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Freshpet presently has an average rating of “Hold” and a consensus target price of $18.36.

Freshpet (NASDAQ:FRPT) opened at $18.75 on Thursday. Freshpet has a 12-month low of $8.90 and a 12-month high of $19.10.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The business had revenue of $41.20 million during the quarter, compared to analysts’ expectations of $41.19 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. equities analysts anticipate that Freshpet will post -0.11 EPS for the current year.

In other news, insider Scott James Morris sold 2,101 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $15.80, for a total value of $33,195.80. Following the completion of the transaction, the insider now directly owns 204,408 shares of the company’s stock, valued at approximately $3,229,646.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stephen Macchiaverna sold 4,946 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.34, for a total value of $85,763.64. Following the completion of the transaction, the vice president now directly owns 77,884 shares of the company’s stock, valued at $1,350,508.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,319 shares of company stock valued at $1,150,255. 6.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Freshpet by 1.4% in 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 in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Freshpet by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock worth $1,145,000 after buying an additional 380 shares in the last quarter. Citadel Advisors LLC grew its position in Freshpet by 4.0% during the 2nd quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock worth $321,000 after acquiring an additional 750 shares during the last quarter. American International Group Inc. grew its position 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 acquiring an additional 917 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Freshpet by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock worth $343,000 after acquiring an additional 1,144 shares during the last quarter. 69.65% of the stock is owned by institutional investors and hedge funds.

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Freshpet Company Profile

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.

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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