Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $25.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 12.92% from the stock’s previous close.

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. “

BUFF has been the subject of a number of other research reports. Citigroup Inc. increased their target price on shares of Blue Buffalo Pet Products from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. DA Davidson reissued a “buy” rating and set a $29.00 target price on shares of Blue Buffalo Pet Products in a research report on Monday, November 7th. Oppenheimer Holdings Inc. assumed coverage on shares of Blue Buffalo Pet Products in a research report on Thursday, September 8th. They set an “outperform” rating and a $30.00 target price for the company. Susquehanna assumed coverage on shares of Blue Buffalo Pet Products in a research report on Monday, October 24th. They set a “positive” rating and a $30.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Blue Buffalo Pet Products from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.00.

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

Blue Buffalo Pet Products (NASDAQ:BUFF) opened at 22.14 on Tuesday. Blue Buffalo Pet Products has a 52 week low of $15.19 and a 52 week high of $27.50. The stock’s 50 day moving average is $24.40 and its 200 day moving average is $25.05. The stock has a market cap of $4.35 billion, a PE ratio of 41.69 and a beta of 2.27.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Thursday, November 10th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Blue Buffalo Pet Products had a net margin of 9.38% and a return on equity of 321.89%. The company earned $288 million during the quarter, compared to analysts’ expectations of $290.29 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. Blue Buffalo Pet Products’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts predict that Blue Buffalo Pet Products will post $0.79 EPS for the current year.

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

Several hedge funds have recently added to or reduced their stakes in BUFF. BlackRock Inc. raised its stake 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 during the last quarter. BlackRock Group LTD raised its stake 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake 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 during the last quarter. A.R.T. Advisors LLC raised its stake in Blue Buffalo Pet Products by 323.5% in the first quarter. A.R.T. Advisors LLC now owns 66,635 shares of the company’s stock worth $1,709,000 after buying an additional 50,900 shares during the last quarter. Finally, Barclays PLC raised its stake in Blue Buffalo Pet Products by 279.7% in the first quarter. Barclays PLC now owns 119,458 shares of the company’s stock worth $2,987,000 after buying an additional 87,993 shares during the last quarter. Hedge funds and other institutional investors own 91.94% 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

Receive News & Stock Ratings for Blue Buffalo Pet Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Buffalo Pet Products Inc. and related stocks with our FREE daily email newsletter.