William Blair Weighs in on Freshpet, Inc.’s Q3 2017 Earnings (FRPT)

Freshpet, Inc. (NASDAQ:FRPT) – Investment analysts at William Blair reduced their Q3 2017 earnings per share estimates for shares of Freshpet in a report released on Monday. William Blair analyst J. Andersen now expects that the company will post earnings per share of ($0.01) for the quarter, down from their prior estimate of $0.02. William Blair also issued estimates for Freshpet’s FY2018 earnings at $0.10 EPS.

FRPT has been the topic of several other research reports. ValuEngine raised shares of Freshpet from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday. Imperial Capital began coverage on shares of Freshpet in a report on Thursday, July 20th. They issued an “in-line” rating and a $16.50 price target on the stock. They noted that the move was a valuation call. SunTrust Banks, Inc. boosted their price target on shares of Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Credit Suisse Group boosted their price target on shares of Freshpet from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.69.

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Freshpet (NASDAQ FRPT) opened at 15.90 on Wednesday. Freshpet has a 12-month low of $7.60 and a 12-month high of $18.25. The firm’s market capitalization is $505.62 million. The stock has a 50 day moving average of $16.45 and a 200 day moving average of $13.13.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.46%. The business had revenue of $39.97 million during the quarter, compared to analyst estimates of $38.09 million. During the same period last year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 21.1% on a year-over-year basis.

A number of large investors have recently modified their holdings of the company. Keybank National Association OH raised its stake in shares of Freshpet by 5.4% in the second quarter. Keybank National Association OH now owns 65,202 shares of the company’s stock worth $1,082,000 after buying an additional 3,365 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Freshpet by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 599,954 shares of the company’s stock worth $9,960,000 after buying an additional 68,254 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Freshpet by 6.9% in the second quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock worth $419,000 after buying an additional 1,640 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Freshpet by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock worth $1,145,000 after buying an additional 380 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Freshpet during the second quarter worth approximately $12,863,000. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO William B. Cyr acquired 7,300 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $13.75 per share, with a total value of $100,375.00. Following the acquisition, the chief executive officer now directly owns 75,532 shares in the company, valued at $1,038,565. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott James Morris sold 5,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $16.73, for a total transaction of $83,650.00. Following the sale, the insider now directly owns 207,307 shares in the company, valued at approximately $3,468,246.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,125 shares of company stock worth $385,458. 8.20% of the stock is owned by insiders.

Freshpet Company Profile

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.

Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

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