Freshpet (NASDAQ:FRPT) Announces Earnings Results

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

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $155.27 on Thursday. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $138.60 and its two-hundred day moving average price is $129.81. Freshpet has a 52-week low of $65.81 and a 52-week high of $157.10. The stock has a market capitalization of $7.53 billion, a P/E ratio of 174.46 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup increased their target price on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Finally, Bank of America upped their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.13.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

About Freshpet

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.