Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) had its target price boosted by J P Morgan Chase & Co from $25.00 to $26.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the stock.
BUFF has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a hold rating to a strong sell rating in a research report on Tuesday, July 11th. Robert W. Baird initiated coverage on shares of Blue Buffalo Pet Products in a research report on Monday, July 24th. They issued a neutral rating and a $23.00 price objective for the company. Susquehanna Bancshares Inc reissued a positive rating on shares of Blue Buffalo Pet Products in a research report on Thursday, April 20th. BidaskClub lowered shares of Blue Buffalo Pet Products from a sell rating to a strong sell rating in a research report on Monday, July 31st. Finally, Citigroup Inc. raised shares of Blue Buffalo Pet Products from a buy rating to a top pick rating in a research report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $27.45.
Blue Buffalo Pet Products (BUFF) traded down 2.55% on Wednesday, hitting $22.55. 2,975,995 shares of the company traded hands. Blue Buffalo Pet Products has a 12 month low of $21.51 and a 12 month high of $27.50. The stock’s 50-day moving average is $22.58 and its 200 day moving average is $23.72. The stock has a market cap of $4.45 billion, a PE ratio of 31.76 and a beta of 1.95.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 112.54%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities research analysts expect that Blue Buffalo Pet Products will post $0.92 earnings per share for the current fiscal year.
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Blue Buffalo Pet Products announced that its board has initiated a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors increased its stake in Blue Buffalo Pet Products by 8.7% in the second quarter. Nationwide Fund Advisors now owns 357,380 shares of the company’s stock worth $8,152,000 after buying an additional 28,600 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in Blue Buffalo Pet Products by 41.3% in the second quarter. Icon Advisers Inc. Co. now owns 75,300 shares of the company’s stock worth $1,718,000 after buying an additional 22,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Blue Buffalo Pet Products by 2.2% in the second quarter. TIAA CREF Investment Management LLC now owns 310,976 shares of the company’s stock worth $7,093,000 after buying an additional 6,652 shares during the last quarter. Teachers Advisors LLC increased its stake in Blue Buffalo Pet Products by 70.7% in the second quarter. Teachers Advisors LLC now owns 100,810 shares of the company’s stock worth $2,299,000 after buying an additional 41,754 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Blue Buffalo Pet Products during the second quarter worth about $1,540,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.
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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