In a report released today, Pablo Zuanic from Susquehanna reiterated a Hold rating on Freshpet (FRPT), with a price target of $35. The company’s shares closed on Friday at $36.05.
Zuanic said:
“Sales $ growth accelerated in the FDM+C scanner channel for FRPT in 3Q (to 32% from 27% in 2Q18, and 24-25% from 2Q17 to 1Q18), and so did pricing (4% from ~3%).”
According to TipRanks.com, Zuanic is a 4-star analyst with an average return of 5.3% and a 49.3% success rate. Zuanic covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Constellation Brands Inc, and Anheuser-Busch Inbev Sa.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freshpet with a $33.75 average price target.
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Based on Freshpet’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.5 million. In comparison, last year the company had a GAAP net loss of $245.5K.
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.
