Blue Buffalo Pet Products (BUFF) Stock Rating Lowered by BidaskClub

Blue Buffalo Pet Products (NASDAQ:BUFF) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other equities research analysts have also recently commented on BUFF. Oppenheimer reaffirmed a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 27th. Susquehanna Bancshares set a $34.00 target price on shares of Blue Buffalo Pet Products and gave the stock a “buy” rating in a research report on Friday, October 20th. Wells Fargo & Co raised shares of Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, December 8th. JPMorgan Chase & Co. cut shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. Finally, Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.54.

Shares of Blue Buffalo Pet Products (BUFF) traded up $0.14 on Thursday, reaching $33.28. 724,286 shares of the company’s stock traded hands, compared to its average volume of 1,050,000. The stock has a market cap of $6,530.00 and a PE ratio of 37.82. The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61. Blue Buffalo Pet Products has a fifty-two week low of $21.51 and a fifty-two week high of $34.19.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business had revenue of $340.85 million during the quarter, compared to analysts’ expectations of $323.05 million. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 EPS. analysts predict that Blue Buffalo Pet Products will post 0.91 earnings per share for the current fiscal year.

In related news, CEO William W. Bishop, Jr. sold 3,180 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $28.02, for a total value 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 approximately $18,177,414.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Nathenson sold 62,708 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $32.72, for a total transaction of $2,051,805.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,068 shares of company stock valued at $5,673,921. 7.70% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. increased its stake in shares of Blue Buffalo Pet Products by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after acquiring an additional 277 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Blue Buffalo Pet Products by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after acquiring an additional 533 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Blue Buffalo Pet Products by 62.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock worth $184,000 after acquiring an additional 2,494 shares in the last quarter. Turner Investments LLC bought a new position in shares of Blue Buffalo Pet Products in the 3rd quarter worth about $184,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Blue Buffalo Pet Products in the 4th quarter worth about $222,000. Institutional investors own 94.80% of the company’s stock.

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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.

Analyst Recommendations for Blue Buffalo Pet Products (NASDAQ:BUFF)

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