Freshpet (NASDAQ:FRPT) Releases Earnings Results

Freshpet (NASDAQ:FRPT) posted its quarterly earnings results on Monday. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10, Briefing.com reports. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The business had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $248.36 million. During the same period in the previous year, the company posted ($0.15) EPS. Freshpet’s revenue was up 26.3% on a year-over-year basis. Freshpet updated its FY 2024 guidance to EPS.

Freshpet Stock Performance

Shares of NASDAQ FRPT traded up $5.05 during trading hours on Wednesday, hitting $156.64. 36,573 shares of the company’s stock were exchanged, compared to its average volume of 580,219. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 170.33 and a beta of 1.39. The company’s 50-day moving average price is $138.19 and its 200-day moving average price is $129.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. Freshpet has a 1-year low of $65.81 and a 1-year high of $157.00.

Insider Transactions at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on FRPT. TD Cowen boosted their target price on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. DA Davidson boosted their price target on Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Finally, Citigroup raised their price target on shares of Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.13.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.