Freshpet (NASDAQ:FRPT) Releases Quarterly Earnings Results

Freshpet (NASDAQ:FRPT) issued its quarterly earnings results on Monday. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10, Briefing.com reports. Freshpet had a net margin of 4.75% and a return on equity of 3.72%. The company had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same quarter last year, the business posted ($0.15) EPS. Freshpet’s quarterly revenue was up 26.3% compared to the same quarter last year. Freshpet updated its FY 2024 guidance to EPS.

Freshpet Stock Performance

NASDAQ FRPT traded down $0.62 on Thursday, reaching $154.64. The stock had a trading volume of 57,164 shares, compared to its average volume of 582,584. The stock has a market cap of $7.50 billion, a P/E ratio of 174.46 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. The business’s 50-day moving average price is $138.60 and its 200 day moving average price is $129.81. Freshpet has a 12-month low of $65.81 and a 12-month high of $157.10.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Truist Financial boosted their price target on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, DA Davidson upped their target price on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.13.

Insider Activity

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

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.