Blue Buffalo Pet Products (NASDAQ:BUFF) had its price target lifted by investment analysts at Citigroup from $33.00 to $39.00 in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 16.49% from the stock’s previous close.
Several other research firms have also recently commented on BUFF. Oppenheimer reaffirmed a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 27th. Susquehanna Bancshares raised their target price on shares of Blue Buffalo Pet Products from $30.00 to $32.00 and gave the stock a “positive” rating in a research report on Thursday, September 21st. BidaskClub raised shares of Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Wells Fargo & Co raised shares of Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. cut shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $32.15.
Blue Buffalo Pet Products (NASDAQ BUFF) traded up $0.26 during trading hours on Tuesday, hitting $33.48. 1,930,800 shares of the stock traded hands, compared to its average volume of 1,304,911. Blue Buffalo Pet Products has a 12-month low of $21.51 and a 12-month high of $33.63. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.62 and a current ratio of 4.22. The stock has a market cap of $6,540.00 and a PE ratio of 38.05.
Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The firm had revenue of $340.85 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same period last year, the company posted $0.22 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. equities research analysts expect that Blue Buffalo Pet Products will post 0.91 earnings per share for the current fiscal year.
In other Blue Buffalo Pet Products news, CEO William W. Bishop, Jr. sold 3,180 shares of the firm’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $32.41, for a total transaction of $103,063.80. Following the completion of the sale, the chief executive officer now directly owns 629,650 shares in the company, valued at approximately $20,406,956.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the sale, the insider now owns 655,090 shares of the company’s stock, valued at $18,722,472.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,068 shares of company stock valued at $5,576,613. 7.70% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its stake in Blue Buffalo Pet Products by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock valued at $103,000 after purchasing an additional 277 shares in the last quarter. SG Americas Securities LLC bought a new stake in Blue Buffalo Pet Products during the 2nd quarter valued at about $138,000. The Manufacturers Life Insurance Company increased its stake in Blue Buffalo Pet Products by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock valued at $138,000 after purchasing an additional 533 shares in the last quarter. Turner Investments LLC bought a new stake in Blue Buffalo Pet Products during the 3rd quarter valued at about $184,000. Finally, Envestnet Asset Management Inc. increased its stake in Blue Buffalo Pet Products by 62.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock valued at $184,000 after purchasing an additional 2,494 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
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Blue Buffalo Pet Products Company Profile
Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.
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