Oppenheimer Weighs in on Freshpet, Inc.’s FY2023 Earnings (NASDAQ:FRPT)

Freshpet, Inc. (NASDAQ:FRPTGet Rating) – Analysts at Oppenheimer dropped their FY2023 earnings per share estimates for shares of Freshpet in a research note issued to investors on Monday, August 1st. Oppenheimer analyst R. Parikh now expects that the company will post earnings per share of $0.16 for the year, down from their prior forecast of $0.18. The consensus estimate for Freshpet’s current full-year earnings is ($0.54) per share.

Freshpet (NASDAQ:FRPTGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Freshpet had a negative net margin of 7.83% and a negative return on equity of 5.06%. The firm had revenue of $132.17 million for the quarter, compared to analyst estimates of $126.26 million. During the same quarter in the prior year, the firm earned ($0.26) earnings per share.

A number of other brokerages have also recently issued reports on FRPT. StockNews.com raised Freshpet to a “sell” rating in a research report on Tuesday, May 17th. Benchmark began coverage on Freshpet in a research report on Wednesday, April 27th. They issued a “buy” rating and a $135.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Freshpet from $136.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Cowen reduced their price objective on Freshpet from $181.00 to $163.00 in a research report on Tuesday, May 3rd. Finally, Atlantic Securities cut Freshpet from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $130.00 to $70.00 in a research report on Friday, May 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.91.

Freshpet Stock Up 2.7 %

Shares of Freshpet stock opened at $54.73 on Wednesday. The stock has a market capitalization of $2.62 billion, a P/E ratio of -65.94 and a beta of 0.87. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $55.96 and a two-hundred day moving average price of $79.31. Freshpet has a 12-month low of $45.22 and a 12-month high of $159.66.

Insider Buying and Selling

In related news, EVP Stephen Weise sold 8,000 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $68.00, for a total value of $544,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is owned by company insiders.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its holdings in Freshpet by 8,433.3% during the first quarter. Quadrant Capital Group LLC now owns 256 shares of the company’s stock worth $26,000 after buying an additional 253 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Freshpet by 186.0% during the 1st quarter. Parallel Advisors LLC now owns 286 shares of the company’s stock valued at $30,000 after purchasing an additional 186 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Freshpet by 414.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 664 shares of the company’s stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Freshpet during the 1st quarter valued at about $44,000. Finally, Signaturefd LLC lifted its holdings in shares of Freshpet by 373.7% during the 1st quarter. Signaturefd LLC now owns 469 shares of the company’s stock valued at $48,000 after purchasing an additional 370 shares in the last quarter.

Freshpet Company Profile

(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.

Further Reading

Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

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