Freshpet (NASDAQ:FRPT) Releases Earnings Results

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 company had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. During the same quarter last year, the company earned ($0.15) EPS. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Freshpet updated its FY 2024 guidance to EPS.

Freshpet Stock Up 0.6 %

Freshpet stock traded up $0.91 during midday trading on Tuesday, hitting $151.48. 256,776 shares of the stock were exchanged, compared to its average volume of 579,941. Freshpet has a 52-week low of $65.81 and a 52-week high of $154.80. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 169.98 and a beta of 1.39. The business’s 50-day moving average price is $137.88 and its 200-day moving average price is $129.30. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. 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. Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research note on Friday. TD Cowen lifted their target price on Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their price target on Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.13.

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.