Freshpet (FRPT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Freshpet (FRPT) ending at $118.52, denoting a -1.61% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Coming into today, shares of the seller of refrigerated fresh pet food had lost 6.62% in the past month. In that same time, the Consumer Staples sector gained 4.37%, while the S&P 500 gained 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Freshpet in its upcoming earnings disclosure. The company's earnings report is set to go public on August 5, 2024. The company's upcoming EPS is projected at -$0.06, signifying an 82.86% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $230.93 million, showing a 25.96% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.54 per share and revenue of $958.35 million, which would represent changes of +177.14% and +24.96%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Freshpet. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.32% downward. Freshpet is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Freshpet is presently being traded at a Forward P/E ratio of 224.42. This represents a premium compared to its industry's average Forward P/E of 16.97.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 196, finds itself in the bottom 23% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Freshpet, Inc. (FRPT) : Free Stock Analysis Report