Blue Buffalo Pet Products Inc (NASDAQ:BUFF) has been given a consensus rating of “Buy” by the seventeen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.30.
Several research analysts recently weighed in on the company. Susquehanna Bancshares set a $41.00 target price on Blue Buffalo Pet Products and gave the company a “buy” rating in a research note on Thursday, December 28th. BidaskClub raised Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Delafield Hambrecht cut Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Deutsche Bank cut Blue Buffalo Pet Products from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Wednesday, December 13th. Finally, Wells Fargo & Co raised Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price for the company in a research note on Friday, December 8th.
In related news, CEO William W. Bishop, Jr. sold 3,180 shares of the stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $32.41, for a total value of $103,063.80. Following the completion of the transaction, the chief executive officer now owns 629,650 shares in the company, valued at approximately $20,406,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Nathenson sold 62,708 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $32.72, for a total value of $2,051,805.76. The disclosure for this sale can be found here. Insiders sold a total of 175,523 shares of company stock valued at $5,495,156 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aurora Investment Counsel acquired a new stake in Blue Buffalo Pet Products during the 4th quarter worth about $3,015,000. California Public Employees Retirement System boosted its position in Blue Buffalo Pet Products by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 144,500 shares of the company’s stock worth $4,097,000 after acquiring an additional 2,800 shares during the period. Point72 Asset Management L.P. acquired a new stake in Blue Buffalo Pet Products during the 3rd quarter worth about $47,841,000. Asset Management One Co. Ltd. acquired a new stake in Blue Buffalo Pet Products during the 3rd quarter worth about $781,000. Finally, Royce & Associates LP acquired a new stake in Blue Buffalo Pet Products during the 3rd quarter worth about $3,119,000. Hedge funds and other institutional investors own 94.77% of the company’s stock.
Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded up $0.52 during mid-day trading on Monday, reaching $33.12. The company had a trading volume of 1,400,869 shares, compared to its average volume of 1,029,396. Blue Buffalo Pet Products has a fifty-two week low of $21.51 and a fifty-two week high of $33.40. The company has a market capitalization of $6,365.58, a PE ratio of 38.07, a P/E/G ratio of 1.92 and a beta of 1.95. The company has a debt-to-equity ratio of 1.61, a current ratio of 4.22 and a quick ratio of 3.62.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its 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. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The business had revenue of $340.85 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. sell-side analysts expect that Blue Buffalo Pet Products will post 0.91 EPS for the current year.
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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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