Freshpet (NASDAQ:FRPT) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

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

Freshpet Stock Down 0.4 %

Shares of NASDAQ FRPT traded down $0.62 during mid-day trading on Thursday, hitting $154.64. The company had a trading volume of 57,164 shares, compared to its average volume of 582,584. Freshpet has a one year low of $65.81 and a one year high of $157.10. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.50 billion, a PE ratio of 174.46 and a beta of 1.39. The firm has a 50-day simple moving average of $138.60 and a two-hundred day simple moving average of $129.81.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FRPT shares. Bank of America lifted their target price on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus lifted their target price on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup raised their target price on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Robert W. Baird raised their target price on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and an average price target of $156.13.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

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.