Stock analysts at DA Davidson assumed coverage on shares of Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $29.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 22.31% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wedbush reissued a “neutral” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, August 10th. Zacks Investment Research downgraded shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Blue Buffalo Pet Products from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Citigroup Inc. boosted their price objective on shares of Blue Buffalo Pet Products from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, Stephens reissued a “hold” rating on shares of Blue Buffalo Pet Products in a report on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $28.50.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) opened at 23.71 on Wednesday. The stock’s 50 day moving average is $25.11 and its 200 day moving average is $25.09. The company has a market capitalization of $4.66 billion, a PE ratio of 43.11 and a beta of 2.39. Blue Buffalo Pet Products has a 1-year low of $15.19 and a 1-year high of $27.50.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its earnings results on Wednesday, August 10th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The business earned $286.85 million during the quarter, compared to the consensus estimate of $281.90 million. Blue Buffalo Pet Products had a net margin of 10.14% and a return on equity of 406.20%. The business’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that Blue Buffalo Pet Products will post $0.76 EPS for the current fiscal year.

In related news, CEO Kurt Schmidt sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $24.83, for a total transaction of $1,241,500.00. Following the completion of the transaction, the chief executive officer now directly owns 103,571 shares in the company, valued at approximately $2,571,667.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director L.P. Invus sold 12,512,124 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $24.83, for a total transaction of $310,676,038.92. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services Inc bought a new position in Blue Buffalo Pet Products during the first quarter worth about $424,000. BlackRock Inc. boosted its position in Blue Buffalo Pet Products by 112.9% in the first quarter. BlackRock Inc. now owns 11,760 shares of the company’s stock worth $302,000 after buying an additional 6,237 shares in the last quarter. BlackRock Group LTD boosted its position in Blue Buffalo Pet Products by 163.0% in the first quarter. BlackRock Group LTD now owns 75,848 shares of the company’s stock worth $1,948,000 after buying an additional 47,005 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Blue Buffalo Pet Products by 7.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,095,026 shares of the company’s stock worth $28,098,000 after buying an additional 78,581 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in Blue Buffalo Pet Products by 1.2% in the first quarter. TimesSquare Capital Management LLC now owns 1,250,300 shares of the company’s stock worth $32,083,000 after buying an additional 14,300 shares in the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

About Blue Buffalo Pet Products

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Blue Buffalo Company, Ltd. (Blue), Blue Buffalo Import Mexico, S.

5 Day Chart for NASDAQ:BUFF

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