Zacks Investment Research lowered shares of Freshpet, Inc. (NASDAQ:FRPT) from a hold rating to a sell rating in a report released on Wednesday, November 8th.
According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “
FRPT has been the subject of a number of other reports. Imperial Capital assumed coverage on Freshpet in a research report on Thursday, July 20th. They issued an in-line rating and a $16.50 price objective for the company. They noted that the move was a valuation call. SunTrust Banks, Inc. boosted their price objective on Freshpet from $15.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, August 8th. Credit Suisse Group boosted their price objective on Freshpet from $15.00 to $17.00 and gave the stock a neutral rating in a research note on Tuesday, November 7th. Stifel Nicolaus restated a buy rating and issued a $20.00 target price (up previously from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. Finally, BidaskClub downgraded Freshpet from a buy rating to a hold rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $18.36.
Freshpet (FRPT) opened at $18.15 on Wednesday. Freshpet has a 12-month low of $8.60 and a 12-month high of $18.55.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $41.20 million during the quarter, compared to analysts’ expectations of $41.19 million. Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. Freshpet’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. research analysts forecast that Freshpet will post -0.11 EPS for the current year.
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In other Freshpet news, VP Stephen Macchiaverna sold 6,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $15.81, for a total transaction of $94,860.00. Following the completion of the sale, the vice president now directly owns 78,938 shares of the company’s stock, valued at approximately $1,248,009.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard A. Kassar sold 15,125 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $17.92, for a total value of $271,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,819 shares of company stock valued at $1,103,480. Insiders own 6.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Freshpet during the 3rd quarter worth approximately $678,000. Uniplan Investment Counsel Inc. purchased a new position in shares of Freshpet during the 3rd quarter worth approximately $2,591,000. Schwab Charles Investment Management Inc. raised its stake in shares of Freshpet by 43.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 99,125 shares of the company’s stock worth $1,552,000 after buying an additional 30,189 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Freshpet by 28.1% during the 3rd quarter. Wells Fargo & Company MN now owns 177,505 shares of the company’s stock worth $2,778,000 after buying an additional 38,915 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Freshpet by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock worth $16,573,000 after buying an additional 73,182 shares in the last quarter. 68.14% of the stock is owned by institutional investors and hedge funds.
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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