Blue Buffalo Pet Products (NASDAQ:BUFF) Price Target Raised to $39.00 at Citigroup

Blue Buffalo Pet Products (NASDAQ:BUFF) had its price target hoisted by Citigroup from $33.00 to $39.00 in a research note issued to investors on Tuesday, January 16th. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. 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. Barclays reaffirmed a buy rating and issued a $29.00 price objective on shares of Blue Buffalo Pet Products in a report on Friday, November 10th. Oppenheimer reaffirmed a buy rating and issued a $32.00 price objective on shares of Blue Buffalo Pet Products in a report on Monday, November 6th. Susquehanna Bancshares set a $34.00 price objective on shares of Blue Buffalo Pet Products and gave the stock a buy rating in a report on Friday, October 20th. Finally, Zacks Investment Research raised shares of Blue Buffalo Pet Products from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $32.15.

Shares of Blue Buffalo Pet Products (NASDAQ BUFF) traded down $0.12 during mid-day trading on Tuesday, reaching $33.56. 427,900 shares of the company’s stock were exchanged, compared to its average volume of 1,104,129. Blue Buffalo Pet Products has a twelve month low of $21.51 and a twelve month high of $34.19. The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61. The company has a market cap of $6,576.46, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 1.98 and a beta of 1.95.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $340.85 million during the quarter, compared to the consensus estimate of $323.05 million. During the same period in the prior year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. research analysts predict that Blue Buffalo Pet Products will post 0.91 earnings per share for the current fiscal year.

In related news, CFO Michael Nathenson sold 62,708 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $32.72, for a total transaction of $2,051,805.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $28.02, for a total transaction of $89,103.60. Following the transaction, the chief executive officer now directly owns 648,730 shares in the company, valued at approximately $18,177,414.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,868 shares of company stock worth $4,970,717. Corporate insiders own 7.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC grew its holdings in Blue Buffalo Pet Products by 0.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 32,243 shares of the company’s stock worth $735,000 after acquiring an additional 114 shares during the last quarter. Advisor Group Inc. grew its holdings in Blue Buffalo Pet Products by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after acquiring an additional 277 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Blue Buffalo Pet Products by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after acquiring an additional 533 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Blue Buffalo Pet Products by 1.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 51,625 shares of the company’s stock worth $1,178,000 after acquiring an additional 730 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Blue Buffalo Pet Products by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 26,354 shares of the company’s stock worth $601,000 after acquiring an additional 1,128 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors.

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About Blue Buffalo Pet Products

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.

Analyst Recommendations for Blue Buffalo Pet Products (NASDAQ:BUFF)

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