Equities research analysts forecast that Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) will report $320.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Blue Buffalo Pet Products’ earnings. The highest sales estimate is $326.30 million and the lowest is $311.50 million. Blue Buffalo Pet Products posted sales of $288.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The firm is scheduled to announce its next earnings report on Thursday, November 9th.

On average, analysts expect that Blue Buffalo Pet Products will report full year sales of $320.23 million for the current fiscal year, with estimates ranging from $1.24 billion to $1.28 billion. For the next financial year, analysts forecast that the company will report sales of $1.36 billion per share, with estimates ranging from $1.31 billion to $1.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Blue Buffalo Pet Products.

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

BUFF has been the subject of a number of research analyst reports. Off Wall Street initiated coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, June 21st. They set a “sell” rating for the company. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $25.00 price objective (down from $28.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, June 28th. Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. Robert W. Baird initiated coverage on shares of Blue Buffalo Pet Products in a report on Monday, July 24th. They set a “neutral” rating and a $23.00 price objective for the company. Finally, BidaskClub raised shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Blue Buffalo Pet Products presently has a consensus rating of “Buy” and a consensus target price of $27.33.

COPYRIGHT VIOLATION NOTICE: “Blue Buffalo Pet Products, Inc. (BUFF) Expected to Announce Quarterly Sales of $320.23 Million” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/08/23/blue-buffalo-pet-products-inc-buff-expected-to-announce-quarterly-sales-of-320-23-million.html.

Shares of Blue Buffalo Pet Products (NASDAQ BUFF) opened at 25.57 on Wednesday. The company’s 50 day moving average price is $22.95 and its 200 day moving average price is $23.68. Blue Buffalo Pet Products has a 12 month low of $21.51 and a 12 month high of $26.72. The stock has a market capitalization of $5.04 billion, a PE ratio of 36.01 and a beta of 1.95.

Blue Buffalo Pet Products announced that its Board of Directors has initiated a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, CFO Michael Nathenson sold 50,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.70% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of BUFF. First Trust Advisors LP increased its stake in shares of Blue Buffalo Pet Products by 20.2% in the first quarter. First Trust Advisors LP now owns 845,656 shares of the company’s stock worth $19,450,000 after buying an additional 142,233 shares in the last quarter. Willingdon Wealth Management increased its stake in shares of Blue Buffalo Pet Products by 3.0% in the first quarter. Willingdon Wealth Management now owns 70,938 shares of the company’s stock worth $1,632,000 after buying an additional 2,080 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Blue Buffalo Pet Products by 50.9% in the first quarter. Great West Life Assurance Co. Can now owns 10,675 shares of the company’s stock worth $245,000 after buying an additional 3,600 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Blue Buffalo Pet Products by 59.7% in the first quarter. Wells Fargo & Company MN now owns 1,414,921 shares of the company’s stock worth $32,543,000 after buying an additional 528,903 shares in the last quarter. Finally, BB&T Corp increased its stake in shares of Blue Buffalo Pet Products by 28.8% in the first quarter. BB&T Corp now owns 30,296 shares of the company’s stock worth $697,000 after buying an additional 6,779 shares in the last quarter. Institutional investors own 87.11% 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.

Get a free copy of the Zacks research report on Blue Buffalo Pet Products (BUFF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)

Receive News & Ratings for Blue Buffalo Pet Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Buffalo Pet Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.