Zacks Investment Research lowered shares of Freshpet (NASDAQ:FRPT) from a hold rating to a sell rating in a research report report published on Tuesday.
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. “
Several other brokerages have also recently commented on FRPT. Robert W. Baird reiterated a buy rating and issued a $22.00 price target on shares of Freshpet in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Freshpet from a hold rating to a buy rating in a research note on Friday, December 22nd. Oppenheimer reiterated a hold rating on shares of Freshpet in a research note on Friday, December 1st. Stifel Nicolaus reiterated a buy rating on shares of Freshpet in a research note on Friday, December 15th. Finally, TheStreet upgraded shares of Freshpet from a d+ rating to a c- rating in a research note on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Freshpet has a consensus rating of Hold and a consensus target price of $18.64.
Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The company had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.19 million. During the same quarter in the previous year, the company earned $0.02 EPS. Freshpet’s revenue for the quarter was up 19.4% on a year-over-year basis. research analysts forecast that Freshpet will post -0.11 EPS for the current fiscal year.
In other news, COO Scott James Morris sold 10,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the sale, the chief operating officer now directly owns 212,307 shares in the company, valued at approximately $3,651,680.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard A. Kassar sold 15,125 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $17.92, for a total transaction of $271,040.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,218 shares of company stock worth $1,211,499. Corporate insiders own 6.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in shares of Freshpet by 10.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock worth $42,124,000 after buying an additional 233,847 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Freshpet by 117.1% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,682,510 shares of the company’s stock worth $26,331,000 after buying an additional 907,644 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Freshpet by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,095,224 shares of the company’s stock worth $18,181,000 after buying an additional 37,762 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Freshpet by 7.4% in 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 during the last quarter. Finally, Emerald Advisers Inc. PA increased its holdings in shares of Freshpet by 27.1% in the 3rd quarter. Emerald Advisers Inc. PA now owns 860,124 shares of the company’s stock worth $13,461,000 after buying an additional 183,620 shares during the last quarter. Hedge funds and other institutional investors own 69.77% of the company’s stock.
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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.
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