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

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

Freshpet Trading Up 0.6 %

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

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s 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 directly owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FRPT shares. Truist Financial increased their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America increased their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Citigroup increased their price objective on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Benchmark reaffirmed a “buy” rating and set a $150.00 target price on shares of Freshpet in a research note on Friday. One research 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 MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target 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.