Freshpet (NASDAQ:FRPT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
Several other analysts also recently weighed in on FRPT. Oppenheimer reiterated a “hold” rating on shares of Freshpet in a research note on Friday, December 1st. Robert W. Baird reiterated a “buy” rating and set a $22.00 price target on shares of Freshpet in a research note on Wednesday, January 3rd. Susquehanna Bancshares began coverage on Freshpet in a research note on Monday, October 2nd. They set a “neutral” rating and a $15.00 price target on the stock. TheStreet upgraded Freshpet from a “d+” rating to a “c-” rating in a research note on Thursday, November 30th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Freshpet in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Freshpet has a consensus rating of “Hold” and a consensus price target of $18.64.
Freshpet (NASDAQ:FRPT) remained flat at $$18.70 during trading on Tuesday. 106,676 shares of the stock were exchanged, compared to its average volume of 170,031. The firm has a market cap of $651.90, a PE ratio of -143.85 and a beta of 1.97. Freshpet has a 12-month low of $9.25 and a 12-month high of $20.50.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $41.20 million for 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 company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. sell-side analysts forecast that Freshpet will post -0.11 EPS for the current year.
In other news, insider Scott James Morris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $17.26, for a total value of $345,200.00. Following the sale, the insider now owns 212,307 shares in the company, valued at $3,664,418.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Kassar sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $18.93, for a total value of $189,300.00. Following the completion of the transaction, the chief financial officer now directly owns 209,994 shares of the company’s stock, valued at approximately $3,975,186.42. The disclosure for this sale can be found here. Insiders sold 68,218 shares of company stock worth $1,211,499 in the last 90 days. Company insiders own 6.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC acquired a new position in Freshpet in the 2nd quarter worth about $188,000. Brighton Jones LLC acquired a new position in Freshpet in the 3rd quarter worth about $232,000. Arrowstreet Capital Limited Partnership acquired a new position in Freshpet in the 2nd quarter worth about $252,000. Citadel Advisors LLC raised its holdings in Freshpet by 4.0% in the 2nd 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. Finally, The Manufacturers Life Insurance Company raised its holdings in Freshpet by 5.9% in the 2nd 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. 69.77% of the stock is owned by institutional investors.
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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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