Freshpet (NASDAQ:FRPT) Issues Earnings Results, Beats Estimates By $0.10 EPS

Freshpet (NASDAQ:FRPT) announced its quarterly earnings data on Monday. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10, Briefing.com reports. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. During the same quarter last year, the business posted ($0.15) earnings per share. The firm’s revenue was up 26.3% compared to the same quarter last year. Freshpet updated its FY 2024 guidance to EPS.

Freshpet Trading Up 0.6 %

Shares of FRPT stock traded up $0.95 on Tuesday, hitting $151.52. The stock had a trading volume of 291,217 shares, compared to its average volume of 579,941. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The firm has a market capitalization of $7.35 billion, a P/E ratio of 169.98 and a beta of 1.39. Freshpet has a 1 year low of $65.81 and a 1 year high of $154.80. The company’s 50 day moving average price is $137.88 and its 200-day moving average price is $129.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird lifted their target price on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus lifted their target price on Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, TD Cowen lifted their target price on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and an average price target of $152.13.

Insider Activity at Freshpet

In related 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 completion of the transaction, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.