Freshpet Inc (NASDAQ:FRPT) Expected to Post Quarterly Sales of $64.73 Million

Equities research analysts expect Freshpet Inc (NASDAQ:FRPT) to announce sales of $64.73 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Freshpet’s earnings. The highest sales estimate is $66.67 million and the lowest is $63.80 million. Freshpet posted sales of $50.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.4%. The firm is scheduled to announce its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Freshpet will report full year sales of $244.86 million for the current fiscal year, with estimates ranging from $243.92 million to $247.58 million. For the next financial year, analysts forecast that the firm will post sales of $297.47 million, with estimates ranging from $277.86 million to $311.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Freshpet.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $60.10 million for the quarter, compared to the consensus estimate of $59.59 million. During the same period in the previous year, the company posted ($0.10) earnings per share. Freshpet’s revenue for the quarter was up 26.3% compared to the same quarter last year.

FRPT has been the subject of a number of recent research reports. DA Davidson initiated coverage on Freshpet in a research report on Wednesday, June 19th. They set a “buy” rating and a $60.00 price target for the company. ValuEngine downgraded Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. initiated coverage on Freshpet in a research report on Tuesday, July 30th. They set a “neutral” rating and a $46.00 price target for the company. SunTrust Banks reduced their price target on Freshpet to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.17.

In other Freshpet news, Director J David Basto purchased 6,400 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $38.61 per share, with a total value of $247,104.00. Following the acquisition, the director now directly owns 23,721 shares of the company’s stock, valued at approximately $915,867.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. HM Payson & Co. bought a new position in Freshpet during the 2nd quarter worth $50,000. Redhawk Wealth Advisors Inc. bought a new position in Freshpet during the 2nd quarter worth $68,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Freshpet by 21.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock worth $95,000 after buying an additional 363 shares during the period. NumerixS Investment Technologies Inc bought a new position in Freshpet during the 1st quarter worth $120,000. Finally, SG Americas Securities LLC bought a new position in shares of Freshpet in the first quarter worth $140,000. Hedge funds and other institutional investors own 98.32% of the company’s stock.

NASDAQ:FRPT traded up $0.84 during trading hours on Friday, reaching $51.30. 236,900 shares of the stock were exchanged, compared to its average volume of 331,682. Freshpet has a twelve month low of $28.44 and a twelve month high of $51.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.51 and a quick ratio of 1.00. The firm has a 50 day moving average of $44.68 and a 200 day moving average of $44.37. The stock has a market cap of $1.80 billion, a PE ratio of -342.00 and a beta of 1.08.

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.

Featured Article: Asset Allocation and Your Retirement

Get a free copy of the Zacks research report on Freshpet (FRPT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

Receive News & Ratings for Freshpet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshpet and related companies with MarketBeat.com's FREE daily email newsletter.