Blue Buffalo Pet Products, Inc. (BUFF) Receives Buy Rating from Barclays PLC

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF)‘s stock had its “buy” rating reaffirmed by equities researchers at Barclays PLC in a research report issued to clients and investors on Friday, November 10th. They presently have a $29.00 price objective on the stock. Barclays PLC’s price objective would suggest a potential downside of 3.53% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Gabelli assumed coverage on Blue Buffalo Pet Products in a research note on Wednesday, September 6th. They set a “buy” rating and a $33.00 target price on the stock. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $25.00 price target (down from $29.00) on shares of Blue Buffalo Pet Products in a research report on Thursday, August 10th. Susquehanna Bancshares Inc restated a “buy” rating and set a $30.00 price target (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub upgraded Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $29.80.

Shares of Blue Buffalo Pet Products (BUFF) traded up $0.56 during midday trading on Friday, hitting $30.06. The company had a trading volume of 1,471,500 shares, compared to its average volume of 1,429,656. The stock has a market cap of $5,870.00 and a PE ratio of 33.15. The company has a current ratio of 4.22, a quick ratio of 3.62 and a debt-to-equity ratio of 1.61. Blue Buffalo Pet Products has a 52 week low of $21.51 and a 52 week high of $30.25.

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, topping the Zacks’ consensus estimate of $0.25 by $0.02. The business had revenue of $340.85 million for the quarter, compared to analysts’ expectations of $323.05 million. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. sell-side analysts anticipate that Blue Buffalo Pet Products will post 0.91 earnings per share for the current fiscal year.

Blue Buffalo Pet Products declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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In related news, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $25.77, for a total transaction of $1,288,500.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares in the company, valued at $1,288,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William W. Bishop, Jr. sold 21,200 shares of the company’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 sale, the insider now owns 655,090 shares of the company’s stock, valued at approximately $18,722,472.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,107 shares of company stock worth $3,555,032. Corporate insiders own 7.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its position in Blue Buffalo Pet Products by 0.4% in the first quarter. Principal Financial Group Inc. now owns 13,046 shares of the company’s stock worth $300,000 after buying an additional 56 shares in the last quarter. NGAM Advisors L.P. increased its position in Blue Buffalo Pet Products by 0.4% in the second quarter. NGAM Advisors L.P. now owns 27,961 shares of the company’s stock worth $638,000 after buying an additional 105 shares in the last quarter. ETRADE Capital Management LLC increased its position in Blue Buffalo Pet Products by 0.4% in the second quarter. ETRADE Capital Management LLC now owns 32,243 shares of the company’s stock worth $735,000 after buying an additional 114 shares in the last quarter. Advisor Group Inc. increased its position in Blue Buffalo Pet Products by 6.5% in the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after buying an additional 277 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Blue Buffalo Pet Products by 9.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after buying an additional 533 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

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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