$41.04 Million in Sales Expected for Freshpet Inc (FRPT) This Quarter

Analysts forecast that Freshpet Inc (NASDAQ:FRPT) will post sales of $41.04 million for the current quarter, Zacks reports. Six analysts have provided estimates for Freshpet’s earnings, with the lowest sales estimate coming in at $40.68 million and the highest estimate coming in at $41.80 million. Freshpet reported sales of $34.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.5%. The company is expected to issue its next quarterly earnings results on Thursday, March 8th.

On average, analysts expect that Freshpet will report full-year sales of $41.04 million for the current year, with estimates ranging from $156.36 million to $157.50 million. For the next fiscal year, analysts forecast that the business will post sales of $184.89 million per share, with estimates ranging from $179.50 million to $188.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Freshpet.

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

Several equities analysts have recently issued reports on FRPT shares. Oppenheimer reiterated a “hold” rating on shares of Freshpet in a research report on Friday, December 1st. BidaskClub downgraded Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. TheStreet upgraded Freshpet from a “d+” rating to a “c-” rating in a research report on Thursday, November 30th. Robert W. Baird set a $20.00 price objective on Freshpet and gave the stock a “buy” rating in a research report on Sunday, October 15th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Freshpet in a research report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Freshpet has a consensus rating of “Hold” and an average target price of $18.64.

Shares of Freshpet (NASDAQ FRPT) traded down $0.55 during midday trading on Friday, hitting $18.40. The stock had a trading volume of 80,700 shares, compared to its average volume of 159,050. The firm has a market capitalization of $660.62, a P/E ratio of -131.42 and a beta of 1.97. Freshpet has a fifty-two week low of $9.25 and a fifty-two week high of $20.50.

In related news, insider Scott James Morris sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $17.26, for a total transaction of $345,200.00. Following the sale, the insider now owns 212,307 shares of the company’s stock, valued at $3,664,418.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen Macchiaverna sold 4,946 shares of the business’s 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 sale, the vice president now directly owns 77,884 shares in the company, valued at approximately $1,350,508.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,218 shares of company stock worth $1,211,499. 6.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC bought a new position in shares of Freshpet in the second quarter valued at $188,000. Brighton Jones LLC bought a new position in shares of Freshpet in the third quarter valued at $232,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Freshpet in the second quarter valued at $252,000. 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 valued at $321,000 after buying an additional 750 shares in the last quarter. 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 valued at $343,000 after buying an additional 1,144 shares in the last quarter. 69.77% of the stock is currently owned by institutional investors.

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About Freshpet

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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