Freshpet (NASDAQ:FRPT) Lowered to “Hold” at BidaskClub

BidaskClub lowered shares of Freshpet (NASDAQ:FRPT) from a buy rating to a hold rating in a report published on Friday, BidAskClub reports.

FRPT has been the topic of several other reports. JPMorgan Chase & Co. assumed coverage on shares of Freshpet in a report on Tuesday, July 30th. They set a neutral rating and a $46.00 price target on the stock. DA Davidson assumed coverage on shares of Freshpet in a report on Wednesday, June 19th. They set a buy rating and a $60.00 price target on the stock. ValuEngine cut shares of Freshpet from a buy rating to a hold rating in a report on Wednesday, September 4th. SunTrust Banks cut their price target on shares of Freshpet to $45.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Freshpet from a buy rating to a hold rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $47.71.

Freshpet stock opened at $49.61 on Friday. Freshpet has a fifty-two week low of $28.44 and a fifty-two week high of $52.42. The firm’s 50-day simple moving average is $45.58 and its 200 day simple moving average is $44.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.00 and a current ratio of 1.51.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Freshpet had a negative return on equity of 6.23% and a negative net margin of 3.42%. The firm had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $59.59 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. As a group, equities analysts expect that Freshpet will post 0.04 earnings per share for the current fiscal year.

In related news, Director J David Basto acquired 6,400 shares of the stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $38.61 per share, with a total value of $247,104.00. Following the completion of the transaction, the director now owns 23,721 shares in the company, valued at approximately $915,867.81. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. HM Payson & Co. bought a new stake in Freshpet in the second quarter worth about $50,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Freshpet in the second quarter valued at approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Freshpet by 21.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after purchasing an additional 363 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of Freshpet in the first quarter valued at approximately $120,000. Finally, SG Americas Securities LLC bought a new stake in shares of Freshpet in the first quarter valued at approximately $140,000. 96.63% 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.

Further Reading: Quiet Period Expirations

Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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