Freshpet Inc (FRPT) was Downgraded by Wedbush to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 11 from a previous price target of $10 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Aug 15, 2016.
On the company’s financial health, Freshpet Inc reported $-0.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.04. The company had revenue of $33.00 million for the quarter, compared to analysts expectations of $32.92 million. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.
Freshpet Inc closed down -0.11 points or -1.03% at $10.59 with 1,33,413 shares getting traded on Friday. Post opening the session at $10.74, the shares hit an intraday low of $10.55 and an intraday high of $10.83 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 12, 2016, Thomas J. Farina (Sr. Vice President, Sales) sold 14,649 shares at $10.68 per share price. According to the SEC, on Aug 12, 2016, Stephen Macchiaverna (Sr. VP, Controller, Secretary) sold 10,052 shares at $10.76 per share price. On Aug 12, 2016, Scott James Morris (President and COO) sold 22,315 shares at $10.64 per share price, according to the Form-4 filing with the securities and exchange commission.
Freshpet Inc. is a manufacturer of fresh refrigerated pet food distributed across North America. The Company offers products consisting of dog food cat food and dog and cat treats. Its recipes include real fresh meat and varying combinations of vegetables leafy greens and anti-oxidant rich fruits without the use of preservatives additives or artificial ingredients. All of its products are sold under the Freshpet brand name with ingredients packaging and labeling customized by class of retail. It also offers fresh and frozen treats across all classes of retail under the Dognation and Dog Joy labels. The Company’s products are available in different forms including slice and serve rolls bagged meals and tubs. Its products are distributed throughout the United States and Canada into retail classes including Grocery and Mass (which includes club) as well as Pet specialty and Natural retail.