Freshpet Inc. (NASDAQ: FRPT) stock fell -1.71% on Wednesday to $66.20 against a previous-day closing price of $67.35. With 0.79 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.9 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $68.29 whereas the lowest price it dropped to was $64.72. The 52-week range on FRPT shows that it touched its highest point at $73.48 and its lowest point at $36.02 during that stretch. It currently has a 1-year price target of $78.27. Beta for the stock currently stands at 0.97.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FRPT was up-trending over the past week, with a rise of 3.28%, but this was up by 1.07% over a month. Three-month performance surged to 6.11% while six-month performance rose 2.99%. The stock gained 8.65% in the past year, while it has gained 25.45% so far this year. A look at the trailing 12-month EPS for FRPT yields -1.41 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.43. This implies an EPS growth rate of -86.20% for this year and 72.20% for next year.
Float and Shares Shorts:
At present, 48.05 million FRPT shares are outstanding with a float of 46.42 million shares on hand for trading. On Apr 27, 2023, short shares totaled 6.99 million, which was 14.53% higher than short shares on Mar 30, 2023. In addition to Mr. William B. Cyr as the firm’s CEO & Exec. Director, Mr. Scott James Morris serves as its Co-Founder, Pres & COO.
Through their ownership of 119.50% of FRPT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.85% of FRPT, in contrast to 57.75% held by mutual funds. Shares owned by individuals account for 17.66%. As the largest shareholder in FRPT with 9.12% of the stake, The Vanguard Group, Inc. holds 4,382,035 shares worth 4,382,035. A second-largest stockholder of FRPT, JANA Partners LLC, holds 4,014,212 shares, controlling over 8.36% of the firm’s shares. Champlain Investment Partners LLC is the third largest shareholder in FRPT, holding 3,743,330 shares or 7.79% stake. With a 2.95% stake in FRPT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,417,069 shares are owned by the mutual fund manager. The Champlain Mid Cap Fund, which owns about 2.91% of FRPT stock, is the second-largest Mutual Fund holder. It holds 1,400,000 shares valued at 96.56 million. Vanguard Small Cap Index Fund holds 2.48% of the stake in FRPT, owning 1,193,595 shares worth 82.32 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, FRPT reported revenue of $146.01M and operating income of -$18.14M. The EBITDA in the recently reported quarter was -$18.16M and diluted EPS was -$0.45.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRPT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FRPT analysts setting a high price target of $100.00 and a low target of $55.00, the average target price over the next 12 months is $78.25. Based on these targets, FRPT could surge 51.06% to reach the target high and fall by -16.92% to reach the target low. Reaching the average price target will result in a growth of 18.2% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded FRPT stock several times over the past three months with 13 Buys and 5 Sells. In these transactions, 37,693 shares were bought while 691 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 68,074 while 8,691 shares were sold.