Zacks: Analysts Anticipate Blue Buffalo Pet Products Inc (BUFF) Will Post Quarterly Sales of $319.42 Million

Analysts expect Blue Buffalo Pet Products Inc (NASDAQ:BUFF) to post sales of $319.42 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Blue Buffalo Pet Products’ earnings, with the lowest sales estimate coming in at $314.45 million and the highest estimate coming in at $324.10 million. Blue Buffalo Pet Products posted sales of $295.10 million during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The business is expected to report its next earnings report after the market closes on Tuesday, February 27th.

According to Zacks, analysts expect that Blue Buffalo Pet Products will report full year sales of $319.42 million for the current year, with estimates ranging from $1.25 billion to $1.27 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.38 billion per share, with estimates ranging from $1.34 billion to $1.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Blue Buffalo Pet Products.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 earnings per share 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 return on equity of 86.23% and a net margin of 14.17%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share.

A number of brokerages recently commented on BUFF. Citigroup boosted their target price on shares of Blue Buffalo Pet Products from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday. Susquehanna Bancshares set a $41.00 target price on shares of Blue Buffalo Pet Products and gave the stock a “buy” rating in a research note on Thursday, December 28th. BidaskClub upgraded shares of Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Finally, Delafield Hambrecht downgraded shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Blue Buffalo Pet Products has an average rating of “Buy” and an average target price of $32.15.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded down $0.15 during mid-day trading on Wednesday, hitting $33.33. 1,152,500 shares of the company were exchanged, compared to its average volume of 1,289,670. The company has a current ratio of 4.22, a quick ratio of 3.62 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $6,510.00 and a P/E ratio of 37.88. Blue Buffalo Pet Products has a 12-month low of $21.51 and a 12-month high of $34.19.

In related news, CEO William W. Bishop, Jr. sold 3,180 shares of the stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $32.41, for a total transaction of $103,063.80. Following the completion of the transaction, the chief executive officer now directly owns 629,650 shares of the company’s stock, valued at $20,406,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $28.58, for a total transaction of $605,896.00. Following the transaction, the insider now directly owns 655,090 shares of the company’s stock, valued at $18,722,472.20. The disclosure for this sale can be found here. Insiders have sold 175,068 shares of company stock valued at $5,576,613 in the last quarter. Insiders own 7.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Blue Buffalo Pet Products by 4.6% in the second quarter. Vanguard Group Inc. now owns 7,072,744 shares of the company’s stock valued at $161,330,000 after buying an additional 310,094 shares in the last quarter. FMR LLC increased its holdings in Blue Buffalo Pet Products by 360.6% in the second quarter. FMR LLC now owns 3,320,428 shares of the company’s stock valued at $75,739,000 after buying an additional 2,599,478 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Blue Buffalo Pet Products by 22.0% in the second quarter. Renaissance Technologies LLC now owns 2,715,500 shares of the company’s stock valued at $61,941,000 after buying an additional 488,800 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Blue Buffalo Pet Products by 14.8% in the third quarter. Wells Fargo & Company MN now owns 2,448,233 shares of the company’s stock valued at $69,409,000 after buying an additional 314,874 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Blue Buffalo Pet Products by 3.3% in the third quarter. Mackenzie Financial Corp now owns 2,401,187 shares of the company’s stock valued at $68,074,000 after buying an additional 76,944 shares in the last quarter. 94.82% of the stock is 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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Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)

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