Blue Buffalo Pet Products (BUFF) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Blue Buffalo Pet Products (NASDAQ:BUFF) from a hold rating to a buy rating in a research report report published on Monday morning. They currently have $37.00 target price on the stock.

According to Zacks, “Blue Buffalo Pet Products, Inc. develops, produces, markets and sells pet food primarily in the United States. The Company’s product lines include BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Naturally Fresh line. It offers dry foods, wet foods as well as treats for puppies, adult dogs, senior dogs and litters for kittens, adult cats and mature cats. Blue Buffalo Pet Products, Inc. is headquartered in Wilton, Connecticut. “

A number of other analysts have also recently commented on the stock. Susquehanna Bancshares set a $41.00 price target on shares of Blue Buffalo Pet Products and gave the company 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. Delafield Hambrecht cut shares of Blue Buffalo Pet Products from a buy rating to a hold rating in a research note on Friday, December 15th. Deutsche Bank cut shares of Blue Buffalo Pet Products from a buy rating to a hold rating and set a $34.00 price target on the stock. in a research note on Wednesday, December 13th. Finally, Wells Fargo & Co upgraded shares of Blue Buffalo Pet Products to a buy rating and set a $36.00 price target on the stock in a research note on Friday, December 8th. One 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 company. Blue Buffalo Pet Products has an average rating of Buy and a consensus target price of $32.15.

Blue Buffalo Pet Products (BUFF) traded up $0.26 on Monday, reaching $33.48. 1,930,800 shares of the company’s stock were exchanged, compared to its average volume of 1,304,911. 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 stock has a market capitalization of $6,580.00 and a PE ratio of 38.05. Blue Buffalo Pet Products has a 52-week low of $21.51 and a 52-week high of $33.63.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The firm had revenue of $340.85 million for 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 company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. sell-side analysts expect that Blue Buffalo Pet Products will post 0.91 EPS for the current year.

In related news, CFO Michael Nathenson sold 62,708 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $32.72, for a total transaction of $2,051,805.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $33.24, for a total transaction of $704,688.00. Following the sale, the insider now directly owns 623,290 shares in the company, valued at approximately $20,718,159.60. The disclosure for this sale can be found here. Insiders have sold a total of 175,068 shares of company stock worth $5,576,613 in the last ninety days. 7.70% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Aurora Investment Counsel bought a new stake in Blue Buffalo Pet Products during the 4th quarter worth approximately $3,015,000. California Public Employees Retirement System increased its holdings 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. bought a new stake in Blue Buffalo Pet Products during the 3rd quarter worth approximately $47,841,000. Asset Management One Co. Ltd. bought a new stake in Blue Buffalo Pet Products during the 3rd quarter worth approximately $781,000. Finally, Royce & Associates LP bought a new position in shares of Blue Buffalo Pet Products in the 3rd quarter worth $3,119,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

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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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