Why Freshpet Stock Was Climbing Today
Shares of Freshpet (NASDAQ: FRPT), the maker of fresh, refrigerated dog and cat food, were moving higher the day after the company delivered a better-than-expected earnings report. After the stock got swept up in the broader market sell-off yesterday, it redeemed itself today, tacking on 3.9% as of 1:45 p.m. ET with the help of a bullish analyst note.
Freshpet has been gaining market share in the pet food sector for years. The company continued that pattern in the second quarter, posting a 28.3% increase in revenue to $235.3 million, topping estimates of $231 million. Even better, the gross margin surged from 32.3% to 39.9% as the company benefited from lower input and quality costs and improved leverage on plant-related expenses.
That drove adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to jump from $9 million to $35.1 million. On a generally accepted accounting principles (GAAP) basis, the company's per-share loss narrowed $0.35 to $0.03, ahead of estimates of a $0.05 per-share loss.
Source Fool.com
Freshpet Inc. Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Freshpet Inc. stock is not clear.
As a result the target price of 130 € shows a slightly positive potential of 2.93% compared to the current price of 126.3 € for Freshpet Inc..
