Freshpet (FRPT) to Post Q2 2018 Earnings of ($0.05) Per Share, SunTrust Banks Forecasts

Freshpet (NASDAQ:FRPT) – SunTrust Banks decreased their Q2 2018 EPS estimates for shares of Freshpet in a report issued on Monday, May 7th, Zacks Investment Research reports. SunTrust Banks analyst W. Chappell now anticipates that the company will earn ($0.05) per share for the quarter, down from their previous forecast of ($0.03). SunTrust Banks currently has a “Buy” rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Freshpet’s Q3 2018 earnings at $0.04 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at ($0.03) EPS and Q1 2019 earnings at ($0.02) EPS.

Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Freshpet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Susquehanna Bancshares set a $17.00 target price on shares of Freshpet and gave the stock a “hold” rating in a research report on Tuesday, May 8th. BidaskClub raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Imperial Capital reissued an “in-line” rating and set a $18.00 target price (up previously from $16.50) on shares of Freshpet in a research report on Friday, March 9th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Freshpet presently has an average rating of “Buy” and a consensus price target of $20.00.

FRPT opened at $21.75 on Thursday. Freshpet has a 1 year low of $20.75 and a 1 year high of $20.90.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, May 7th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $43.20 million for the quarter, compared to analyst estimates of $42.06 million. Freshpet had a negative net margin of 2.97% and a negative return on equity of 4.35%. The company’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS.

Several institutional investors have recently added to or reduced their stakes in the company. FDx Advisors Inc. boosted its stake in shares of Freshpet by 16.2% during the 1st quarter. FDx Advisors Inc. now owns 19,464 shares of the company’s stock valued at $320,000 after buying an additional 2,709 shares during the last quarter. Wrapmanager Inc. boosted its stake in shares of Freshpet by 24.3% during the 1st quarter. Wrapmanager Inc. now owns 14,940 shares of the company’s stock valued at $246,000 after buying an additional 2,917 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its stake in shares of Freshpet by 1.9% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 181,117 shares of the company’s stock valued at $2,979,000 after buying an additional 3,381 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Freshpet by 31.9% during the 4th quarter. Brighton Jones LLC now owns 19,526 shares of the company’s stock valued at $370,000 after buying an additional 4,723 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Freshpet by 0.3% during the 1st quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock valued at $25,105,000 after buying an additional 4,854 shares during the last quarter. Institutional investors own 74.46% of the company’s stock.

In other Freshpet news, COO Scott James Morris sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $20.80, for a total value of $208,000.00. Following the completion of the transaction, the chief operating officer now owns 207,798 shares in the company, valued at approximately $4,322,198.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stephen Macchiaverna sold 4,946 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $20.50, for a total value of $101,393.00. Following the completion of the transaction, the vice president now owns 73,884 shares of the company’s stock, valued at approximately $1,514,622. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

About Freshpet

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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Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

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