Zacks: Brokerages Expect Freshpet, Inc. (NASDAQ:FRPT) Will Announce Quarterly Sales of $146.27 Million

Brokerages expect that Freshpet, Inc. (NASDAQ:FRPT – Get Rating) will post $146.27 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Freshpet’s earnings, with estimates ranging from $145.18 million to $147.20 million. Freshpet posted sales of $108.62 million in the same quarter last year, which suggests a positive year over year growth rate of 34.7%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Freshpet will report full-year sales of $581.51 million for the current financial year, with estimates ranging from $577.91 million to $587.30 million. For the next financial year, analysts expect that the company will post sales of $760.67 million, with estimates ranging from $746.30 million to $801.23 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Freshpet.

Freshpet (NASDAQ:FRPT – Get Rating) last issued its earnings results on Monday, May 2nd. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The business had revenue of $132.17 million during the quarter, compared to analyst estimates of $126.26 million. Freshpet had a negative net margin of 7.83% and a negative return on equity of 5.06%. During the same period in the prior year, the business posted ($0.26) EPS.

Several research analysts recently issued reports on the company. Cowen lowered their target price on Freshpet from $181.00 to $163.00 in a research report on Tuesday, May 3rd. Oppenheimer reduced their target price on Freshpet from $120.00 to $110.00 in a research note on Tuesday, May 3rd. Cowen reduced their target price on Freshpet from $181.00 to $163.00 and set an “outperform” rating for the company in a research note on Tuesday, May 3rd. Benchmark assumed coverage on Freshpet in a research note on Wednesday, April 27th. They set a “buy” rating and a $135.00 price target for the company. Finally, The Goldman Sachs Group cut their price target on Freshpet from $136.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $128.91.

Several large investors have recently bought and sold shares of the company. Champlain Investment Partners LLC raised its position in Freshpet by 245.6% in the fourth quarter. Champlain Investment Partners LLC now owns 1,897,110 shares of the company’s stock worth $180,738,000 after acquiring an additional 1,348,240 shares during the period. Wasatch Advisors Inc. increased its holdings in Freshpet by 49.2% in the 4th quarter. Wasatch Advisors Inc. now owns 3,308,323 shares of the company’s stock valued at $315,184,000 after acquiring an additional 1,090,907 shares during the last quarter. American Century Companies Inc. bought a new stake in Freshpet in the 1st quarter valued at $105,377,000. Riverbridge Partners LLC grew its stake in shares of Freshpet by 67.8% in the 1st quarter. Riverbridge Partners LLC now owns 897,644 shares of the company’s stock worth $92,134,000 after buying an additional 362,631 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Freshpet by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 1,784,376 shares of the company’s stock worth $183,149,000 after buying an additional 325,414 shares in the last quarter.

Shares of FRPT opened at $62.83 on Thursday. Freshpet has a 52 week low of $53.09 and a 52 week high of $183.38. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -75.70 and a beta of 0.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.01 and a current ratio of 1.48. The stock has a fifty day moving average of $90.76 and a 200-day moving average of $96.09.

About Freshpet (Get Rating)

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. 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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