Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a report released on Friday.

Several other research analysts also recently weighed in on BUFF. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $30.00 price target (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. J P Morgan Chase & Co increased their price target on shares of Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Blue Buffalo Pet Products in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Barclays PLC reiterated a “buy” rating and issued a $27.00 price target on shares of Blue Buffalo Pet Products in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Blue Buffalo Pet Products presently has an average rating of “Buy” and a consensus target price of $27.00.

Blue Buffalo Pet Products (BUFF) traded down 0.08% during trading on Friday, hitting $24.03. The stock had a trading volume of 2,154,544 shares. The firm has a market capitalization of $4.74 billion, a PE ratio of 33.85 and a beta of 1.95. The firm has a 50 day moving average price of $22.71 and a 200-day moving average price of $23.68. Blue Buffalo Pet Products has a 1-year low of $21.51 and a 1-year high of $26.72.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The business had revenue of $294.80 million for the quarter, compared to the consensus estimate of $301.88 million. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Blue Buffalo Pet Products will post $0.92 EPS for the current year.

Blue Buffalo Pet Products announced that its Board of Directors has initiated a share buyback program on Tuesday, August 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase 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 stock is undervalued.

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Hedge funds have recently made changes to their positions in the company. FNY Partners Fund LP boosted its stake 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 period. Advisor Group Inc. boosted its stake in shares of Blue Buffalo Pet Products by 6.5% in the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after buying an additional 277 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Blue Buffalo Pet Products during the fourth quarter worth about $134,000. SG Americas Securities LLC purchased a new stake in shares of Blue Buffalo Pet Products during the second quarter worth about $138,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Blue Buffalo Pet Products by 9.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after buying an additional 533 shares during the period. 87.11% of the stock is owned by hedge funds and other institutional investors.

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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