Wall Street brokerages expect Freshpet (NASDAQ:FRPT) to post sales of $41.78 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Freshpet’s earnings. The lowest sales estimate is $40.60 million and the highest is $42.61 million. Freshpet posted sales of $34.51 million in the same quarter last year, which would indicate a positive year over year growth rate of 21.1%. The firm is expected to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Freshpet will report full year sales of $41.78 million for the current financial year, with estimates ranging from $184.82 million to $185.40 million. For the next fiscal year, analysts forecast that the company will post sales of $223.06 million per share, with estimates ranging from $218.20 million to $228.10 million. Zacks’ sales averages are an average based on a survey of analysts that follow Freshpet.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $40.70 million for the quarter, compared to analyst estimates of $41.14 million. During the same quarter last year, the company earned $0.04 EPS. The business’s revenue was up 19.4% compared to the same quarter last year.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Imperial Capital restated an “in-line” rating and set a $18.00 price objective (up previously from $16.50) on shares of Freshpet in a report on Friday, March 9th. BidaskClub downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Credit Suisse Group upped their price objective on shares of Freshpet from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, ValuEngine downgraded shares of Freshpet from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. 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 company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.71.
A number of large investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC increased its holdings in Freshpet by 59.4% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,682,342 shares of the company’s stock worth $50,830,000 after buying an additional 999,832 shares during the period. BlackRock Inc. boosted its position in Freshpet by 4.9% in the 4th quarter. BlackRock Inc. now owns 1,521,275 shares of the company’s stock worth $28,827,000 after purchasing an additional 71,368 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Freshpet by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock worth $16,573,000 after purchasing an additional 73,182 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Freshpet by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 639,033 shares of the company’s stock worth $12,109,000 after purchasing an additional 13,274 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its position in Freshpet by 2.1% in the 4th quarter. Driehaus Capital Management LLC now owns 564,250 shares of the company’s stock worth $10,693,000 after purchasing an additional 11,361 shares in the last quarter. Institutional investors own 73.37% of the company’s stock.
Shares of FRPT traded down $0.50 during mid-day trading on Wednesday, hitting $15.95. 204,089 shares of the company traded hands, compared to its average volume of 223,956. Freshpet has a 1-year low of $10.55 and a 1-year high of $20.85. The company has a market cap of $578.03, a P/E ratio of -132.92 and a beta of 1.69.
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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