Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF)‘s stock had its “outperform” rating reiterated by analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Thursday. They currently have a $25.00 target price on the stock, down from their previous target price of $29.00. Oppenheimer Holdings, Inc.’s price objective would indicate a potential upside of 8.04% from the company’s current price. Oppenheimer Holdings also issued estimates for Blue Buffalo Pet Products’ Q3 2017 earnings at $0.24 EPS, Q4 2017 earnings at $0.21 EPS, FY2017 earnings at $0.89 EPS and FY2018 earnings at $0.97 EPS.
BUFF has been the topic of a number of other reports. Zacks Investment Research lowered Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. BidaskClub lowered Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Susquehanna Bancshares Inc reissued a “buy” rating and set a $30.00 price target (down from $32.00) on shares of Blue Buffalo Pet Products in a research note on Monday. Off Wall Street assumed coverage on Blue Buffalo Pet Products in a research note on Wednesday, June 21st. They set a “sell” rating on the stock. Finally, J P Morgan Chase & Co lifted their price target on Blue Buffalo Pet Products from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $27.45.
Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded down 2.16% during mid-day trading on Thursday, reaching $22.64. The company’s stock had a trading volume of 503,766 shares. The firm has a market cap of $4.46 billion, a PE ratio of 31.89 and a beta of 1.95. The company has a 50-day moving average of $22.58 and a 200-day moving average of $23.72. Blue Buffalo Pet Products has a 12 month low of $21.51 and a 12 month high of $27.50.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.21. Blue Buffalo Pet Products had a return on equity of 112.54% and a net margin of 12.13%. The firm had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Blue Buffalo Pet Products will post $0.92 earnings per share for the current year.
Blue Buffalo Pet Products declared that its board has approved a share buyback program on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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Institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group bought a new position in Blue Buffalo Pet Products during the second quarter worth approximately $8,329,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Blue Buffalo Pet Products by 804.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 160,461 shares of the company’s stock worth $3,660,000 after buying an additional 142,726 shares in the last quarter. Swiss National Bank raised its position in Blue Buffalo Pet Products by 12.4% in the second quarter. Swiss National Bank now owns 163,600 shares of the company’s stock worth $3,732,000 after buying an additional 18,100 shares in the last quarter. Commerce Bank bought a new position in Blue Buffalo Pet Products during the second quarter worth approximately $281,000. Finally, Principal Financial Group Inc. raised its position in Blue Buffalo Pet Products by 25.5% in the second quarter. Principal Financial Group Inc. now owns 16,377 shares of the company’s stock worth $374,000 after buying an additional 3,331 shares in the last quarter. 88.92% of the stock is currently owned by institutional investors.
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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