Long Position on FRPT @ $130.00 on 12/10/2020 (Momentum)

Freshpet, Inc. (FRPT) manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom.

The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Freshpet Inc. reported 3rd Quarter September 2020 earnings of $0.09 per share on revenue of $84.2 million. The consensus earnings estimate was $0.09 per share on revenue of $84.0 million. Revenue grew 29.0% on a year-over-year basis.

The company said it continues to expect 2020 revenue of $320.0 million or more. The current consensus revenue estimate is $321.73 million for the year ending December 31, 2020.

This stock is nearing it's yearly high average and it should continue to progress up along its trading channel.

Entry Point: $130.00

Stop Loss: $123.50

Trading Range: $40.79 - $142.96

Target Price: $143.00

Updates

1/6/2021 10:44:16 AM

FRPT closed at $145.56

Position closed on 1/6/2021 at price of $145.56 with a 11.97% gain in 27 days.

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