In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Freshpet (FRPT). The company’s shares opened today at $35.44.
Parikh noted:
“We overall view the Q3 results reported by FRPT as mixed. On the positive side, top- line momentum remained very strong with sales growth of 26.6%. This performance remains impressive in CPG land, and FRPT continues to gain meaningful share. On the negative side, EBITDA fell modestly short of expectations driven by greater than expected gross margin headwinds. With shares trading at takeout-type multiples, in our view, following a more than 87% rally to date (vs. a gain of 2% in the S&P 500), we believe the report may not be enough to support very elevated expectations. We continue to look very favorably on the longer term opportunity and management team, and await an attractive entry point.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.3% and a 63.8% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Wal-Mart Stores Inc, and Sprouts Farmers.
Currently, the analyst consensus on Freshpet is a Moderate Buy with an average price target of $33.75, a -4.8% downside from current levels. In a report released today, Susquehanna also reiterated a Hold rating on the stock with a $35 price target.
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The company has a one-year high of $40.58 and a one-year low of $15.39. Currently, Freshpet has an average volume of 286.2K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
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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.
