Freshpet (FRPT) PT Raised to $35.00

Freshpet (NASDAQ:FRPT) had its price target hoisted by investment analysts at Imperial Capital from $18.00 to $35.00 in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has an “in-line” rating on the stock. Imperial Capital’s target price indicates a potential upside of 0.63% from the company’s previous close. Imperial Capital also issued estimates for Freshpet’s Q4 2018 earnings at $0.10 EPS, FY2018 earnings at ($0.10) EPS, Q1 2019 earnings at ($0.01) EPS, Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.23 EPS and FY2020 earnings at $0.61 EPS.

A number of other equities analysts also recently issued reports on FRPT. Zacks Investment Research upgraded Freshpet from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, July 18th. Robert W. Baird raised their price target on Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Stifel Nicolaus raised their price target on Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Credit Suisse Group raised their price target on Freshpet from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. Finally, BidaskClub downgraded Freshpet from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $29.57.

FRPT stock opened at $34.78 on Tuesday. The firm has a market capitalization of $1.22 billion, a PE ratio of -289.83 and a beta of 1.55. Freshpet has a 1 year low of $15.67 and a 1 year high of $40.58.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The firm had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $46.08 million. Freshpet had a negative return on equity of 4.88% and a negative net margin of 3.07%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. As a group, research analysts predict that Freshpet will post -0.05 earnings per share for the current year.

In related news, COO Scott James Morris sold 3,512 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $37.75, for a total value of $132,578.00. Following the transaction, the chief operating officer now directly owns 173,672 shares of the company’s stock, valued at approximately $6,556,118. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard A. Kassar sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $33.85, for a total value of $677,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,546 shares of company stock worth $2,790,800. 5.10% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Barclays PLC raised its holdings in Freshpet by 130.3% during the first quarter. Barclays PLC now owns 9,283 shares of the company’s stock valued at $153,000 after acquiring an additional 5,253 shares during the period. SG Americas Securities LLC bought a new stake in Freshpet during the third quarter valued at about $206,000. Wedge Capital Management L L P NC bought a new stake in Freshpet during the second quarter valued at about $217,000. IFG Advisory LLC bought a new stake in Freshpet during the third quarter valued at about $234,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Freshpet during the second quarter valued at about $263,000. 72.97% of the stock is currently owned by institutional investors and hedge funds.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

See Also: Return on Investment (ROI)

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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