Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Other equities analysts have also recently issued reports about the company. Wedbush reaffirmed a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, August 10th. JPMorgan Chase & Co. raised their price target on 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. raised their price target on Blue Buffalo Pet Products from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Deutsche Bank AG raised their price target on Blue Buffalo Pet Products from $28.00 to $30.00 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $28.50.

Analyst Recommendations for Blue Buffalo Pet Products (NASDAQ:BUFF)

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded down 1.17% during midday trading on Tuesday, reaching $24.56. The company had a trading volume of 868,511 shares. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 44.65 and a beta of 2.39. The stock has a 50-day moving average of $24.94 and a 200 day moving average of $25.09. Blue Buffalo Pet Products has a 52 week low of $15.19 and a 52 week 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 Zacks’ consensus estimate of $0.17 by $0.02. Blue Buffalo Pet Products had a return on equity of 406.20% and a net margin of 10.14%. The company had revenue of $286.85 million for the quarter, compared to analysts’ expectations of $281.90 million. Blue Buffalo Pet Products’s quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts anticipate that Blue Buffalo Pet Products will post $0.76 earnings per share for the current year.

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

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Blue Buffalo Pet Products by 112.9% in the first quarter. BlackRock Inc. now owns 11,760 shares of the company’s stock valued at $302,000 after buying an additional 6,237 shares during the period. First Mercantile Trust Co. raised its position in Blue Buffalo Pet Products by 51.7% in the second quarter. First Mercantile Trust Co. now owns 13,500 shares of the company’s stock valued at $315,000 after buying an additional 4,600 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Blue Buffalo Pet Products during the first quarter valued at approximately $872,000. Barclays PLC raised its position in Blue Buffalo Pet Products by 279.7% in the first quarter. Barclays PLC now owns 119,458 shares of the company’s stock valued at $2,987,000 after buying an additional 87,993 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised 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 valued at $28,098,000 after buying an additional 78,581 shares in the last quarter. 90.06% of the stock is currently owned by hedge funds and other institutional investors.

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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