In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Freshpet (FRPT). The company’s shares closed yesterday at $38.41, close to its 52-week high of $40.58.
Parikh noted:
“We look very favorably upon another solid top line showing from FRPT. Q4 sales increased 29.7%, topping expectations of +26%. This level of performance continues to stand out in CPG land. Management guidance also suggests continued confidence in sustaining momentum into FY19 with expectations for revenue growth of >24% and stronger EBITDA flow-through vs. the prior year. We continue to look very favorably upon the FRPT story, but view the shares as fully valued at current levels.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.8% and a 63.7% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freshpet with a $44 average price target.
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Based on Freshpet’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $97.17K. In comparison, last year the company had a net profit of $1.51 million.
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Freshpet, Inc. engaged 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. The company was founded by Scott Morris and Cathal Walsh in October 2006 and is headquartered in Secaucus, NJ.
