Blue Buffalo Pet Products, Inc. (BUFF) Stock Rating Reaffirmed by Barclays PLC

Barclays PLC restated their buy rating on shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) in a research report sent to investors on Friday. The brokerage currently has a $29.00 price objective on the stock.

A number of other analysts have also recently issued reports on the company. Oppenheimer Holdings, Inc. reissued a buy rating and set a $32.00 target price on shares of Blue Buffalo Pet Products in a research note on Monday, November 6th. Susquehanna Bancshares Inc set a $34.00 price target on shares of Blue Buffalo Pet Products and gave the stock a buy rating in a research note on Friday, October 20th. Zacks Investment Research cut shares of Blue Buffalo Pet Products from a buy rating to a hold rating in a research note on Wednesday, October 18th. J P Morgan Chase & Co cut shares of Blue Buffalo Pet Products from an overweight rating to a neutral rating in a research note on Tuesday, October 17th. Finally, Citigroup Inc. reaffirmed a top pick rating on shares of Blue Buffalo Pet Products in a research note on Saturday, September 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Blue Buffalo Pet Products has a consensus rating of Hold and a consensus target price of $29.80.

Blue Buffalo Pet Products (NASDAQ BUFF) traded up $0.19 during midday trading on Friday, reaching $27.37. The company had a trading volume of 1,124,300 shares, compared to its average volume of 1,425,633. Blue Buffalo Pet Products has a twelve month low of $21.51 and a twelve month high of $29.84. 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 company has a market cap of $5,307.25, a PE ratio of 30.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.94.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its 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. 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 period in the prior year, the business earned $0.22 EPS. Blue Buffalo Pet Products’s revenue for the quarter was up 18.4% compared to the same quarter last year. analysts anticipate that Blue Buffalo Pet Products will post 0.91 EPS for the current fiscal year.

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Blue Buffalo Pet Products declared that its board has authorized a stock repurchase plan on Tuesday, August 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

In related news, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total value of $605,896.00. Following the completion of the transaction, the insider now directly owns 655,090 shares of the company’s stock, valued at $18,722,472.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William W. Bishop, Jr. sold 21,655 shares of the firm’s stock in a transaction on 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 sold 229,927 shares of company stock valued at $5,965,929 over the last three months. 7.70% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. bought a new position in shares of Blue Buffalo Pet Products in the third quarter valued at $781,000. Royce & Associates LP bought a new position in shares of Blue Buffalo Pet Products in the third quarter valued at $3,119,000. Allianz Asset Management GmbH grew its stake in shares of Blue Buffalo Pet Products by 8.1% in the third quarter. Allianz Asset Management GmbH now owns 618,951 shares of the company’s stock valued at $17,547,000 after buying an additional 46,160 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Blue Buffalo Pet Products in the third quarter valued at $213,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Blue Buffalo Pet Products by 62.9% in the third quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock valued at $184,000 after buying an additional 2,494 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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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