Zacks: Brokerages Anticipate Freshpet Inc (FRPT) to Post $0.03 EPS

Wall Street analysts expect Freshpet Inc (NASDAQ:FRPT) to report earnings of $0.03 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Freshpet’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.06. Freshpet reported earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 400%. The firm is expected to issue its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that Freshpet will report full-year earnings of ($0.05) per share for the current year, with EPS estimates ranging from ($0.08) to ($0.02). For the next fiscal year, analysts expect that the firm will report earnings of $0.23 per share, with EPS estimates ranging from $0.16 to $0.28. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Freshpet.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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 firm 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) EPS. The company’s quarterly revenue was up 23.0% on a year-over-year basis.

FRPT has been the topic of a number of research reports. BidaskClub downgraded Freshpet from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded 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. Stifel Nicolaus increased their price objective on Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Credit Suisse Group increased their price objective on Freshpet from $26.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, August 13th. Finally, Robert W. Baird increased their price objective on Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Freshpet currently has an average rating of “Buy” and an average price target of $27.14.

NASDAQ:FRPT traded up $0.73 during mid-day trading on Monday, reaching $35.33. The stock had a trading volume of 270,300 shares, compared to its average volume of 262,236. Freshpet has a fifty-two week low of $15.05 and a fifty-two week high of $38.30. The company has a market capitalization of $1.30 billion, a P/E ratio of -294.42 and a beta of 1.83.

In other Freshpet news, CFO Richard A. Kassar sold 15,000 shares of the 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 transaction, the chief financial officer now owns 203,231 shares in the company, valued at $6,808,238.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stephen Macchiaverna sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $33.00, for a total value of $165,000.00. Following the transaction, the vice president now owns 77,938 shares in the company, valued at approximately $2,571,954. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,546 shares of company stock worth $3,458,300. Corporate insiders own 5.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Uniplan Investment Counsel Inc. grew its holdings in Freshpet by 1.9% during the first quarter. Uniplan Investment Counsel Inc. now owns 181,117 shares of the company’s stock valued at $2,979,000 after purchasing an additional 3,381 shares during the last quarter. OLD National Bancorp IN grew its holdings in Freshpet by 29.9% during the second quarter. OLD National Bancorp IN now owns 15,821 shares of the company’s stock valued at $434,000 after purchasing an additional 3,638 shares during the last quarter. Rhumbline Advisers grew its holdings in Freshpet by 21.6% during the second quarter. Rhumbline Advisers now owns 25,525 shares of the company’s stock valued at $701,000 after purchasing an additional 4,533 shares during the last quarter. BlackRock Inc. grew its stake in shares of Freshpet by 0.3% in the first quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock worth $25,105,000 after acquiring an additional 4,854 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Freshpet by 26.4% in the first quarter. Royal Bank of Canada now owns 24,867 shares of the company’s stock worth $409,000 after acquiring an additional 5,199 shares during the last quarter. Institutional investors own 74.62% of the company’s stock.

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.

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