Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) – Investment analysts at Gabelli lifted their FY2020 EPS estimates for Blue Buffalo Pet Products in a research note issued on Monday. Gabelli analyst Z. Bodini now expects that the company will post earnings of $1.40 per share for the year, up from their previous forecast of $1.35. Gabelli currently has a “Buy” rating and a $33.00 target price on the stock. Gabelli also issued estimates for Blue Buffalo Pet Products’ FY2021 earnings at $1.60 EPS.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $340.85 million for the quarter, compared to analyst estimates of $323.05 million. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS.

BUFF has been the topic of a number of other research reports. TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a report on Friday, August 11th. Barclays reissued a “buy” rating and issued a $29.00 price target on shares of Blue Buffalo Pet Products in a report on Friday, November 10th. J P Morgan Chase & Co raised their price target on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, August 21st. Oppenheimer reissued an “outperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Blue Buffalo Pet Products in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Blue Buffalo Pet Products has a consensus rating of “Hold” and a consensus price target of $29.80.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded up $0.78 during trading on Wednesday, reaching $31.43. 1,472,682 shares of the company’s stock were exchanged, compared to its average volume of 1,419,162. The company has a market cap of $5,914.52, a price-to-earnings ratio of 34.03, a PEG ratio of 2.29 and a beta of 1.95. Blue Buffalo Pet Products has a 1-year low of $21.51 and a 1-year high of $31.61. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.62 and a current ratio of 4.22.

Several institutional investors and hedge funds have recently made changes to their positions in BUFF. FMR LLC boosted its stake in shares of Blue Buffalo Pet Products by 360.6% during the 2nd quarter. FMR LLC now owns 3,320,428 shares of the company’s stock valued at $75,739,000 after purchasing an additional 2,599,478 shares in the last quarter. Harris Associates L P bought a new stake in Blue Buffalo Pet Products during the second quarter worth about $53,476,000. Bank of New York Mellon Corp boosted its stake in Blue Buffalo Pet Products by 50.3% during the second quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock worth $119,411,000 after acquiring an additional 1,752,086 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Blue Buffalo Pet Products during the third quarter worth about $47,841,000. Finally, Marshall Wace North America L.P. boosted its stake in Blue Buffalo Pet Products by 693.2% during the second quarter. Marshall Wace North America L.P. now owns 995,109 shares of the company’s stock worth $22,887,000 after acquiring an additional 869,657 shares in the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider William W. Bishop, Jr. sold 21,200 shares of Blue Buffalo Pet Products stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the sale, the insider now owns 655,090 shares of the company’s stock, valued at approximately $18,722,472.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William W. Bishop, Jr. sold 21,655 shares of Blue Buffalo Pet Products stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $28.78, for a total transaction of $623,230.90. The disclosure for this sale can be found here. Insiders have sold a total of 67,235 shares of company stock worth $1,969,071 in the last ninety days. Insiders own 7.70% of the company’s stock.

Blue Buffalo Pet Products announced that its board has approved a stock repurchase program on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “FY2020 Earnings Estimate for Blue Buffalo Pet Products, Inc. Issued By Gabelli (BUFF)” was first reported by American Banking News and is owned by of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/12/06/fy2020-earnings-estimate-for-blue-buffalo-pet-products-inc-issued-by-gabelli-buff.html.

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)

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.