Oppenheimer Holdings Equities Analysts Cut Earnings Estimates for Freshpet Inc (FRPT)

Freshpet Inc (NASDAQ:FRPT) – Stock analysts at Oppenheimer Holdings decreased their FY2017 earnings estimates for shares of Freshpet in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Oppenheimer Holdings analyst R. Parikh now expects that the company will post earnings per share of ($0.08) for the year, down from their prior estimate of $0.04.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Thursday, March 9th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm earned $34.06 million during the quarter, compared to analysts’ expectations of $34.18 million. Freshpet had a negative net margin of 1.25% and a negative return on equity of 1.56%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share.

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Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

Other research analysts also recently issued reports about the stock. Robert W. Baird set a $13.00 target price on shares of Freshpet and gave the stock a “buy” rating in a research report on Saturday, March 25th. Zacks Investment Research raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Freshpet has a consensus rating of “Hold” and an average target price of $10.75.

Freshpet (NASDAQ:FRPT) traded down 2.16% on Friday, reaching $11.30. 105,766 shares of the company traded hands. The company’s market capitalization is $359.34 million. The company has a 50-day moving average price of $10.89 and a 200-day moving average price of $10.04. Freshpet has a 12 month low of $7.48 and a 12 month high of $12.00.

In other news, CEO William B. Cyr bought 17,850 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were acquired at an average cost of $11.07 per share, with a total value of $197,599.50. Following the completion of the transaction, the chief executive officer now directly owns 68,232 shares in the company, valued at approximately $755,328.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Freshpet by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 34,476 shares of the company’s stock valued at $350,000 after buying an additional 396 shares during the period. Wrapmanager Inc. increased its position in shares of Freshpet by 16.8% in the fourth quarter. Wrapmanager Inc. now owns 23,017 shares of the company’s stock worth $234,000 after buying an additional 3,308 shares during the last quarter. Commerce Bank increased its position in shares of Freshpet by 15.1% in the third quarter. Commerce Bank now owns 30,467 shares of the company’s stock worth $264,000 after buying an additional 4,000 shares during the last quarter. Keybank National Association OH increased its position in shares of Freshpet by 31.9% in the fourth quarter. Keybank National Association OH now owns 61,837 shares of the company’s stock worth $628,000 after buying an additional 14,939 shares during the last quarter. Finally, Granite Investment Partners LLC increased its position in shares of Freshpet by 18.9% in the third quarter. Granite Investment Partners LLC now owns 121,836 shares of the company’s stock worth $1,054,000 after buying an additional 19,370 shares during the last quarter. 63.84% of the stock is currently owned by institutional investors and hedge funds.

About Freshpet

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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