FY2018 EPS Estimates for Freshpet Inc Boosted by SunTrust Banks (FRPT)

Freshpet Inc (NASDAQ:FRPT) – Stock analysts at SunTrust Banks raised their FY2018 EPS estimates for shares of Freshpet in a research report issued to clients and investors on Monday. SunTrust Banks analyst W. Chappell now expects that the company will post earnings per share of $0.06 for the year, up from their previous forecast of $0.05.

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

Other research analysts also recently issued research reports about the stock. Robert W. Baird reiterated a “buy” rating and issued a $22.00 target price on shares of Freshpet in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Freshpet from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Stifel Nicolaus reiterated a “buy” rating on shares of Freshpet in a research note on Friday, December 15th. TheStreet upgraded shares of Freshpet from a “d+” rating to a “c-” rating in a research note on Thursday, November 30th. Finally, Oppenheimer reissued a “hold” rating on shares of Freshpet in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.64.

Shares of Freshpet (FRPT) remained flat at $$18.70 during midday trading on Wednesday. The company had a trading volume of 106,676 shares, compared to its average volume of 172,433. The stock has a market cap of $651.90, a P/E ratio of -143.85 and a beta of 1.97. Freshpet has a 1 year low of $9.25 and a 1 year high of $20.50.

In other Freshpet news, insider Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $18.71, for a total transaction of $46,775.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stephen Macchiaverna sold 4,946 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $17.34, for a total transaction of $85,763.64. Following the sale, 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. Insiders have sold 68,218 shares of company stock valued at $1,211,499 over the last three months. 6.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in FRPT. Schwab Charles Investment Management Inc. increased its holdings in Freshpet by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock valued at $1,145,000 after buying an additional 380 shares during the last quarter. Rhumbline Advisers increased its holdings in Freshpet by 6.9% during the second quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock valued at $419,000 after buying an additional 1,640 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Freshpet by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 599,954 shares of the company’s stock valued at $9,960,000 after buying an additional 68,254 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Freshpet by 10.2% during the second quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock valued at $42,124,000 after buying an additional 233,847 shares during the last quarter. Finally, Teachers Advisors LLC increased its holdings in Freshpet by 21.3% during the second quarter. Teachers Advisors LLC now owns 44,712 shares of the company’s stock valued at $742,000 after buying an additional 7,855 shares during the last quarter. 69.77% 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.

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