FRPT - Freshpet: Anticipating Strong Growth And Positive Earnings In 2024 (Upgrade)

2024-07-01 11:56:54 ET

Summary

• Freshpet, Inc.'s volume growth has accelerated and returned to levels exceeding +20% in recent times, which suggests that inflationary pressures have become less of a challenge for the company's customers.
• Freshpet is well-positioned to report positive GAAP earnings this year for the first time since its 2014 listing, as the company has managed its product costs well.
• I revise my rating for Freshpet, Inc. shares to a Buy, considering the company's favorable financial outlook that could drive further valuation re-rating.

Elevator Pitch

Freshpet, Inc. ( FRPT ) shares are rated as a Buy.

I previously performed a preview of FRPT's results for the second quarter of the prior year with my August 3, 2023 write-up . The current article touches on Freshpet's top line growth prospects and profitability improvement potential....

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