Freshpet (NASDAQ:FRPT) Issues Quarterly Earnings Results

Freshpet (NASDAQ:FRPT) issued its earnings results on Monday. The company reported $0.24 earnings per share (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 analysts’ expectations of $248.36 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. Freshpet updated its FY 2024 guidance to EPS.

Freshpet Trading Up 0.6 %

Freshpet stock traded up $0.92 during trading hours on Tuesday, reaching $151.49. The stock had a trading volume of 299,164 shares, compared to its average volume of 580,139. 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 company has a fifty day simple moving average of $137.88 and a 200-day simple moving average of $129.30. The stock has a market cap of $7.35 billion, a PE ratio of 169.98 and a beta of 1.39. Freshpet has a 52 week low of $65.81 and a 52 week high of $154.80.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Citigroup increased their target price on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. One equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.13.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction on Thursday, September 5th. The shares were 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 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 SEC, which is available at this link. 3.70% of the stock is owned by company insiders.

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.