Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.

According to Zacks, “Blue Buffalo Pet Products, Inc. develops, produces, markets and sells pet food primarily in the United States. The Company’s product lines include BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Naturally Fresh line. It offers dry foods, wet foods as well as treats for puppies, adult dogs, senior dogs and litters for kittens, adult cats and mature cats. Blue Buffalo Pet Products, Inc. is headquartered in Wilton, Connecticut. “

Other equities analysts have also issued reports about the company. Susquehanna Bancshares Inc set a $32.00 price objective on Blue Buffalo Pet Products and gave the stock a “buy” rating in a report on Thursday, May 25th. Morgan Stanley lowered Blue Buffalo Pet Products from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective for the company. in a report on Friday, March 17th. Imperial Capital initiated coverage on Blue Buffalo Pet Products in a report on Wednesday, June 28th. They issued an “outperform” rating and a $30.00 price objective for the company. J P Morgan Chase & Co reissued an “overweight” rating and issued a $25.00 price objective (down from $28.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, June 28th. Finally, Off Wall Street assumed coverage on Blue Buffalo Pet Products in a report on Wednesday, June 21st. They issued a “sell” rating for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.40.

Blue Buffalo Pet Products (BUFF) traded up 1.04% during mid-day trading on Tuesday, hitting $22.37. The stock had a trading volume of 1,771,178 shares. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 32.90 and a beta of 1.97. Blue Buffalo Pet Products has a 12-month low of $21.60 and a 12-month high of $27.50. The company has a 50-day moving average of $23.52 and a 200-day moving average of $24.14.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Blue Buffalo Pet Products had a return on equity of 122.62% and a net margin of 11.69%. The business had revenue of $302 million during the quarter, compared to analyst estimates of $300.27 million. During the same period in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Blue Buffalo Pet Products will post $0.92 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. FNY Partners Fund LP raised its position in shares of Blue Buffalo Pet Products by 63.7% in the first quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock worth $103,000 after buying an additional 1,751 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Blue Buffalo Pet Products by 54.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,019 shares of the company’s stock worth $121,000 after buying an additional 1,769 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Blue Buffalo Pet Products during the fourth quarter worth about $134,000. US Bancorp DE raised its position in shares of Blue Buffalo Pet Products by 38.5% in the first quarter. US Bancorp DE now owns 7,193 shares of the company’s stock worth $165,000 after buying an additional 2,000 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Blue Buffalo Pet Products during the first quarter worth about $191,000. 88.41% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Blue Buffalo Pet Products (NASDAQ:BUFF)

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