Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) updated its FY16 earnings guidance on Thursday. The company provided earnings per share guidance of $0.78-0.79 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.76. The company issued revenue guidance of $1.14-1.15 billion, compared to the consensus revenue estimate of $1.15 billion.

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Blue Buffalo Pet Products from $28.00 to $33.00 and gave the stock an overweight rating in a research note on Thursday, August 11th. Deutsche Bank AG lifted their price objective on shares of Blue Buffalo Pet Products from $28.00 to $30.00 and gave the company a buy rating in a research note on Thursday, August 11th. Citigroup Inc. lifted 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 research note on Thursday, August 11th. Wedbush restated a neutral rating and set a $25.00 price objective (up from $24.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, August 10th. Finally, Oppenheimer Holdings Inc. assumed coverage on shares of Blue Buffalo Pet Products in a research note on Thursday, September 8th. They set an outperform rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $29.50.

Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)

Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) opened at 23.29 on Monday. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 42.35 and a beta of 2.27. Blue Buffalo Pet Products Inc. has a 12-month low of $15.19 and a 12-month high of $27.50. The stock’s 50 day moving average is $24.52 and its 200 day moving average is $25.12.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Thursday, November 10th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $288 million for the quarter, compared to analyst estimates of $290.29 million. Blue Buffalo Pet Products had a net margin of 9.38% and a return on equity of 321.89%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. Equities research analysts forecast that Blue Buffalo Pet Products Inc. will post $0.79 EPS for the current fiscal year.

In other Blue Buffalo Pet Products news, Director L.P. Invus sold 12,512,124 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $24.83, for a total value of $310,676,038.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kurt Schmidt sold 50,000 shares of the 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 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 currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its position in shares of Blue Buffalo Pet Products by 4.4% in the second quarter. Parametric Portfolio Associates LLC now owns 18,116 shares of the company’s stock valued at $423,000 after buying an additional 763 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of Blue Buffalo Pet Products by 1.4% in the second quarter. Guggenheim Capital LLC now owns 173,978 shares of the company’s stock valued at $4,061,000 after buying an additional 2,340 shares in the last quarter. Raymond James & Associates raised its position in shares of Blue Buffalo Pet Products by 50.7% in the second quarter. Raymond James & Associates now owns 12,573 shares of the company’s stock valued at $293,000 after buying an additional 4,230 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of Blue Buffalo Pet Products by 382.9% in the second quarter. BlackRock Japan Co. Ltd now owns 5,447 shares of the company’s stock valued at $127,000 after buying an additional 4,319 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Blue Buffalo Pet Products by 66.0% in the second quarter. Principal Financial Group Inc. now owns 14,330 shares of the company’s stock valued at $334,000 after buying an additional 5,698 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Blue Buffalo Pet Products Company Profile

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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