Blue Buffalo Pet Products, Inc. (BUFF) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) from a hold rating to a buy rating in a research report released on Tuesday. The firm currently has $28.00 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. “
BUFF has been the subject of a number of other reports. DA Davidson reissued a buy rating and issued a $29.00 target price on shares of Blue Buffalo Pet Products in a report on Monday, November 7th. Susquehanna started coverage on Blue Buffalo Pet Products in a report on Monday, October 24th. They issued a positive rating and a $30.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $29.38.
Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded down 0.20% on Tuesday, reaching $24.83. The company had a trading volume of 566,954 shares. Blue Buffalo Pet Products has a 12 month low of $15.19 and a 12 month high of $27.50. The company’s 50-day moving average is $24.11 and its 200 day moving average is $24.75. The firm has a market capitalization of $4.88 billion, a PE ratio of 46.76 and a beta of 2.05.
Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its earnings results on Thursday, November 10th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Blue Buffalo Pet Products had a return on equity of 242.34% and a net margin of 9.38%. The business earned $288 million during the quarter, compared to analysts’ expectations of $290.29 million. During the same period in the prior year, the firm posted $0.14 EPS. Blue Buffalo Pet Products’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Blue Buffalo Pet Products will post $0.79 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in Blue Buffalo Pet Products during the second quarter valued at approximately $803,000. American Century Companies Inc. purchased a new stake in Blue Buffalo Pet Products during the second quarter valued at approximately $38,618,000. Henderson Group PLC purchased a new stake in Blue Buffalo Pet Products during the second quarter valued at approximately $1,751,000. Tocqueville Asset Management L.P. purchased a new stake in Blue Buffalo Pet Products during the second quarter valued at approximately $222,000. Finally, Columbus Circle Investors boosted its stake in Blue Buffalo Pet Products by 12.0% in the second quarter. Columbus Circle Investors now owns 991,243 shares of the company’s stock valued at $23,136,000 after buying an additional 106,545 shares during the period. 85.32% of the stock is owned by 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.
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