Delafield Hambrecht Lowers Blue Buffalo Pet Products (BUFF) to Hold
Blue Buffalo Pet Products (NASDAQ:BUFF) was downgraded by equities researchers at Delafield Hambrecht from a “buy” rating to a “hold” rating in a research report issued on Friday.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a research note on Friday. Gabelli assumed coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 6th. They set a “buy” rating and a $33.00 price target for the company. Susquehanna Bancshares boosted their price target on shares of Blue Buffalo Pet Products from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Thursday, September 21st. Oppenheimer reaffirmed a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, September 27th. Finally, Sanford C. Bernstein initiated coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, September 13th. They set a “market perform” rating and a $29.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.67.
Shares of Blue Buffalo Pet Products (NASDAQ BUFF) opened at $31.06 on Friday. The company has a market cap of $6,240.61, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 2.19 and a beta of 1.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.62 and a current ratio of 4.22. Blue Buffalo Pet Products has a one year low of $21.51 and a one year high of $32.67.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $340.85 million during 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%. Blue Buffalo Pet Products’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. equities research analysts forecast that Blue Buffalo Pet Products will post 0.91 earnings per share for the current fiscal year.
In related news, insider William W. Bishop, Jr. sold 21,200 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total value of $605,896.00. Following the transaction, the insider now directly 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 through this link. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $28.02, for a total transaction of $89,103.60. Following the completion of the transaction, the chief executive officer now directly owns 648,730 shares in the company, valued at $18,177,414.60. The disclosure for this sale can be found here. Insiders have sold a total of 88,435 shares of company stock worth $2,652,771 over the last ninety days. Insiders own 7.70% of the company’s stock.
Several large investors have recently modified their holdings of BUFF. FMR LLC boosted its holdings in shares of Blue Buffalo Pet Products by 360.6% in the 2nd quarter. FMR LLC now owns 3,320,428 shares of the company’s stock worth $75,739,000 after buying an additional 2,599,478 shares during the last quarter. Harris Associates L P purchased a new position in shares of Blue Buffalo Pet Products in the 2nd quarter worth about $53,476,000. Bank of New York Mellon Corp boosted its holdings in shares of Blue Buffalo Pet Products by 50.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock worth $119,411,000 after buying an additional 1,752,086 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Blue Buffalo Pet Products in the 3rd quarter worth about $47,841,000. Finally, Marshall Wace North America L.P. boosted its holdings in shares of Blue Buffalo Pet Products by 693.2% in the 2nd quarter. Marshall Wace North America L.P. now owns 995,109 shares of the company’s stock worth $22,887,000 after buying an additional 869,657 shares during the last quarter. 95.24% of the stock is currently owned by institutional investors.
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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.
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