Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) – Analysts at Gabelli issued their FY2017 earnings estimates for Blue Buffalo Pet Products in a report released on Wednesday. Gabelli analyst Z. Bodini anticipates that the company will earn $0.95 per share for the year. Gabelli currently has a “Buy” rating and a $33.00 target price on the stock. Gabelli also issued estimates for Blue Buffalo Pet Products’ FY2018 earnings at $1.10 EPS, FY2019 earnings at $1.25 EPS, FY2020 earnings at $1.40 EPS and FY2021 earnings at $1.55 EPS.

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

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A number of other brokerages have also recently weighed in on BUFF. Robert W. Baird restated a “hold” rating and issued a $23.00 price objective on shares of Blue Buffalo Pet Products in a report on Friday, September 1st. BidaskClub upgraded shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. J P Morgan Chase & Co lifted their price objective on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 21st. TheStreet upgraded shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a report on Friday, August 11th. Finally, Off Wall Street initiated coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, June 21st. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Blue Buffalo Pet Products has an average rating of “Buy” and an average price target of $27.90.

Shares of Blue Buffalo Pet Products (NASDAQ BUFF) opened at 26.07 on Monday. Blue Buffalo Pet Products has a 12 month low of $21.51 and a 12 month high of $26.50. The stock has a market cap of $5.14 billion, a P/E ratio of 36.72 and a beta of 1.91. The company has a 50 day moving average price of $24.08 and a 200-day moving average price of $23.77.

Several large investors have recently modified their holdings of BUFF. Russell Investments Group Ltd. lifted its position in shares of Blue Buffalo Pet Products by 812.9% during the 1st quarter. Russell Investments Group Ltd. now owns 50,720 shares of the company’s stock worth $1,166,000 after buying an additional 45,164 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Blue Buffalo Pet Products by 59.7% during the 1st 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 during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Blue Buffalo Pet Products by 50.9% during the 1st 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 during the last quarter. First Trust Advisors LP lifted its position in shares of Blue Buffalo Pet Products by 20.2% during the 1st 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 during the last quarter. Finally, US Bancorp DE lifted its position in shares of Blue Buffalo Pet Products by 38.5% during the 1st 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. Institutional investors and hedge funds own 88.77% of the company’s stock.

In other news, CFO Michael Nathenson sold 37,072 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $25.58, for a total transaction of $948,301.76. Following the completion of the sale, the chief financial officer now owns 37,072 shares in the company, valued at approximately $948,301.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 187,072 shares of company stock valued at $4,736,802 in the last quarter. 7.70% of the stock is currently owned by company insiders.

Blue Buffalo Pet Products announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.

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

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