Freshpet, Inc. (NASDAQ:FRPT) Forecasted to Post Q3 2022 Earnings of $0.01 Per Share

Freshpet, Inc. (NASDAQ:FRPT) – Equities research analysts at Oppenheimer issued their Q3 2022 earnings estimates for Freshpet in a research report issued on Wednesday, January 12th. Oppenheimer analyst R. Parikh forecasts that the company will post earnings of $0.01 per share for the quarter. Oppenheimer currently has a “Outperform” rating and a $120.00 price target on the stock.

Several other brokerages also recently issued reports on FRPT. Truist Financial raised shares of Freshpet to a “buy” rating and set a $175.00 target price on the stock in a research note on Wednesday, October 13th. Truist raised shares of Freshpet from a “hold” rating to a “buy” rating and upped their price target for the stock from $150.00 to $175.00 in a research note on Wednesday, October 13th. Truist Securities raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Wednesday, October 13th. Citigroup dropped their price target on shares of Freshpet from $120.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, December 20th. Finally, Stephens dropped their price target on shares of Freshpet from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $156.69.

Shares of NASDAQ:FRPT opened at $91.23 on Friday. The company’s fifty day moving average is $104.28 and its two-hundred day moving average is $130.84. Freshpet has a 12-month low of $80.08 and a 12-month high of $186.98. The company has a market cap of $3.96 billion, a P/E ratio of -162.91 and a beta of 0.63.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.12). Freshpet had a negative net margin of 6.02% and a negative return on equity of 3.71%. The firm had revenue of $107.59 million for the quarter, compared to analyst estimates of $114.31 million. During the same period last year, the firm earned $0.09 earnings per share. Freshpet’s revenue for the quarter was up 27.8% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in FRPT. Baillie Gifford & Co. lifted its stake in shares of Freshpet by 75.0% in the third quarter. Baillie Gifford & Co. now owns 196 shares of the company’s stock valued at $28,000 after buying an additional 84 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Freshpet in the second quarter valued at about $61,000. FourThought Financial LLC lifted its stake in shares of Freshpet by 69.3% in the fourth quarter. FourThought Financial LLC now owns 452 shares of the company’s stock valued at $43,000 after buying an additional 185 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Freshpet by 245.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 501 shares of the company’s stock valued at $71,000 after buying an additional 356 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Freshpet by 37.1% in the third quarter. Fifth Third Bancorp now owns 762 shares of the company’s stock valued at $109,000 after buying an additional 206 shares during the period. Institutional investors own 95.92% of the company’s stock.

In other news, Director Charles A. Norris purchased 5,000 shares of the firm’s stock in a transaction on Monday, November 29th. The stock was bought at an average cost of $110.03 per share, for a total transaction of $550,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter N. George purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, November 24th. The shares were purchased at an average price of $107.96 per share, with a total value of $107,960.00. The disclosure for this purchase can be found here. Insiders purchased 7,819 shares of company stock valued at $858,036 over the last quarter. 5.80% of the stock is currently owned by corporate insiders.

About Freshpet

Freshpet, Inc engages in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are sold throughout the United States and in Canada under the Freshpet Select, Vital and Nature’s Fresh brands. Its products include deli fresh grain free chicken recipe for dogs; dog joy turkey and apple bites treats for dogs; nature’s fresh grain free chicken recipe for cats; and vital grain free chicken and ocean whitefish recipe for cats.

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Earnings History and Estimates for Freshpet (NASDAQ:FRPT)

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