Freshpet (NASDAQ:FRPT) Announces Earnings Results

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

Freshpet Price Performance

NASDAQ FRPT traded up $1.02 during trading on Tuesday, hitting $151.59. 859,939 shares of the company's stock were exchanged, compared to its average volume of 582,760. The stock's 50 day moving average price is $137.88 and its two-hundred day moving average price is $129.30. Freshpet has a fifty-two week low of $65.81 and a fifty-two week high of $154.80. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. The company has a market cap of $7.35 billion, a PE ratio of 170.83 and a beta of 1.39.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The shares were 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on FRPT shares. Robert W. Baird increased their price target on shares of Freshpet from $157.00 to $170.00 and gave the company an "outperform" rating in a report on Tuesday. Citigroup upped their price objective on Freshpet from $124.00 to $129.00 and gave the company a "neutral" rating in a report on Wednesday, July 17th. Bank of America lifted their target price on Freshpet from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Truist Financial lifted their price objective on shares of Freshpet from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, TD Cowen increased their target price on shares of Freshpet from $160.00 to $174.00 and gave the stock a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.07.

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.