Freshpet Inc (FRPT) Expected to Post Quarterly Sales of $50.38 Million

Analysts predict that Freshpet Inc (NASDAQ:FRPT) will announce sales of $50.38 million for the current quarter, according to Zacks. Four analysts have made estimates for Freshpet’s earnings, with the highest sales estimate coming in at $50.93 million and the lowest estimate coming in at $49.10 million. Freshpet reported sales of $41.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Monday, November 5th.

According to Zacks, analysts expect that Freshpet will report full year sales of $190.91 million for the current year, with estimates ranging from $190.00 million to $192.16 million. For the next year, analysts forecast that the business will report sales of $234.86 million, with estimates ranging from $233.20 million to $236.26 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Freshpet.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Freshpet had a negative return on equity of 5.05% and a negative net margin of 3.33%. The company had revenue of $47.60 million during the quarter, compared to analyst estimates of $46.08 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year.



Several equities analysts have recently commented on FRPT shares. Zacks Investment Research upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, July 18th. Robert W. Baird upped their price objective on shares of Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Stifel Nicolaus upped their price objective on shares of Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Credit Suisse Group upped their price objective on shares of Freshpet from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Finally, BidaskClub downgraded shares of Freshpet from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $27.14.

In related news, insider Scott James Morris sold 4,450 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $34.00, for a total transaction of $151,300.00. Following the sale, the insider now directly owns 197,798 shares of the company’s stock, valued at approximately $6,725,132. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard A. Kassar sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the sale, the chief financial officer now directly owns 203,231 shares in the company, valued at $6,808,238.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,546 shares of company stock worth $3,458,300. 5.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in Freshpet by 130.3% during the 1st quarter. Barclays PLC now owns 9,283 shares of the company’s stock worth $153,000 after buying an additional 5,253 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Freshpet in the 2nd quarter valued at approximately $217,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Freshpet in the 2nd quarter valued at approximately $263,000. Strs Ohio purchased a new stake in shares of Freshpet in the 3rd quarter valued at approximately $348,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Freshpet in the 2nd quarter valued at approximately $371,000. 72.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FRPT stock traded up $1.00 during trading hours on Friday, hitting $37.96. The company had a trading volume of 216,006 shares, compared to its average volume of 277,631. Freshpet has a fifty-two week low of $15.05 and a fifty-two week high of $40.58. The firm has a market cap of $1.31 billion, a P/E ratio of -316.33 and a beta of 1.83.

About Freshpet

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.

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