DA Davidson Weighs in on Freshpet Inc’s Q2 2019 Earnings (NASDAQ:FRPT)

Freshpet Inc (NASDAQ:FRPT) – Equities researchers at DA Davidson issued their Q2 2019 earnings per share estimates for Freshpet in a research report issued on Wednesday, June 19th, Zacks Investment Research reports. DA Davidson analyst B. Holland anticipates that the company will earn ($0.09) per share for the quarter. DA Davidson has a “Buy” rating and a $60.00 price objective on the stock. DA Davidson also issued estimates for Freshpet’s Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at $0.13 EPS and FY2020 earnings at $0.67 EPS.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Freshpet had a negative return on equity of 4.46% and a negative net margin of 2.57%. The company had revenue of $54.80 million for the quarter, compared to analyst estimates of $54.28 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. TheStreet downgraded shares of Whitestone REIT from a “b-” rating to a “c+” rating in a research report on Monday, April 1st. Finally, SunTrust Banks downgraded shares of LegacyTexas Financial Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $43.00 to $39.05 in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.57.

NASDAQ FRPT traded down $0.38 on Friday, reaching $45.51. 328,173 shares of the company’s stock traded hands, compared to its average volume of 430,939. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -303.40 and a beta of 1.11. The business has a 50 day moving average of $46.69. Freshpet has a fifty-two week low of $25.81 and a fifty-two week high of $51.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 1.08.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can purchased a new position in Freshpet in the fourth quarter valued at $58,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Freshpet during the first quarter worth about $120,000. SG Americas Securities LLC purchased a new stake in shares of Freshpet during the first quarter worth about $140,000. Legal & General Group Plc increased its stake in shares of Freshpet by 28.2% during the fourth quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock worth $167,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Freshpet during the first quarter worth about $190,000. 86.74% of the stock is owned by institutional investors.

In other Freshpet news, VP Stephen Macchiaverna sold 10,000 shares of Freshpet stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $47.05, for a total value of $470,500.00. Following the completion of the transaction, the vice president now owns 82,938 shares of the company’s stock, valued at $3,902,232.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott James Morris sold 49,766 shares of Freshpet stock in a transaction on Friday, June 7th. The shares were sold at an average price of $47.79, for a total transaction of $2,378,317.14. Following the completion of the transaction, the insider now directly owns 170,232 shares of the company’s stock, valued at approximately $8,135,387.28. The disclosure for this sale can be found here. Insiders sold 174,104 shares of company stock valued at $8,335,030 in the last ninety days. 5.10% of the stock is owned by corporate insiders.

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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