Zacks Investment Research Lowers Freshpet (FRPT) to Sell

Freshpet (NASDAQ:FRPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.

According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “

A number of other research analysts also recently issued reports on the company. BidaskClub downgraded Freshpet from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Stifel Nicolaus restated a “buy” rating on shares of Freshpet in a report on Friday, December 15th. TheStreet upgraded Freshpet from a “d+” rating to a “c-” rating in a report on Thursday, November 30th. Credit Suisse Group boosted their price target on Freshpet from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Robert W. Baird restated a “buy” rating and set a $22.00 price target on shares of Freshpet in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Freshpet currently has a consensus rating of “Hold” and a consensus target price of $19.71.

Shares of Freshpet (FRPT) traded down $0.10 during trading hours on Monday, reaching $18.00. The company had a trading volume of 203,075 shares, compared to its average volume of 213,581. Freshpet has a 52 week low of $10.45 and a 52 week high of $20.85. The stock has a market cap of $636.01, a P/E ratio of -128.56 and a beta of 1.56.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Freshpet had a negative net margin of 2.73% and a negative return on equity of 3.85%. The business had revenue of $40.70 million for the quarter, compared to analysts’ expectations of $41.14 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. research analysts predict that Freshpet will post -0.01 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can lifted its position in Freshpet by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock valued at $122,000 after acquiring an additional 103 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Freshpet during the 1st quarter valued at $122,000. Voya Investment Management LLC purchased a new stake in Freshpet during the 2nd quarter valued at $188,000. Virtu Financial LLC purchased a new stake in Freshpet during the 4th quarter valued at $246,000. Finally, American International Group Inc. raised its stake in Freshpet by 7.1% during the 1st quarter. American International Group Inc. now owns 13,762 shares of the company’s stock valued at $151,000 after buying an additional 917 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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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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