Freshpet (NASDAQ:FRPT) Posts Earnings Results, Beats Estimates By $0.10 EPS

Freshpet (NASDAQ:FRPT) released its quarterly earnings results on Monday. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10, Briefing.com reports. The business had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period last year, the firm earned ($0.15) earnings per share. Freshpet updated its FY 2024 guidance to EPS.

Freshpet Stock Up 0.6 %

NASDAQ FRPT traded up $0.92 on Tuesday, hitting $151.49. 299,164 shares of the stock were exchanged, compared to its average volume of 580,139. Freshpet has a fifty-two week low of $65.81 and a fifty-two week high of $154.80. The company has a 50-day moving average price of $137.88 and a 200-day moving average price of $129.30. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The company has a market cap of $7.35 billion, a PE ratio of 169.98 and a beta of 1.39.

Wall Street Analyst Weigh In

FRPT has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America increased their target price on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their price target on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.13.

Insider Activity

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.