TheStreet upgraded shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) from a c rating to a b- rating in a research note published on Friday.

Several other equities research analysts have also recently commented on BUFF. Citigroup Inc. raised Blue Buffalo Pet Products from a buy rating to a top pick rating in a research note on Tuesday, April 18th. Susquehanna Bancshares Inc reaffirmed a positive rating on shares of Blue Buffalo Pet Products in a research note on Thursday, April 20th. Zacks Investment Research cut Blue Buffalo Pet Products from a buy rating to a hold rating in a research note on Thursday, May 11th. Off Wall Street started coverage on Blue Buffalo Pet Products in a research note on Wednesday, June 21st. They set a sell rating for the company. Finally, Imperial Capital started coverage on Blue Buffalo Pet Products in a research note on Wednesday, June 28th. They set an outperform rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $27.00.

Blue Buffalo Pet Products (BUFF) traded up 0.42% during trading on Friday, hitting $24.15. The stock had a trading volume of 498,102 shares. The firm has a market capitalization of $4.76 billion, a P/E ratio of 34.01 and a beta of 1.95. Blue Buffalo Pet Products has a one year low of $21.51 and a one year high of $26.72. The stock has a 50 day moving average of $22.66 and a 200 day moving average of $23.68.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its earnings results on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The business had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $301.88 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Equities research analysts expect that Blue Buffalo Pet Products will post $0.92 earnings per share for the current fiscal year.

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Blue Buffalo Pet Products declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 8th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in BUFF. Russell Investments Group Ltd. purchased a new position in shares of Blue Buffalo Pet Products during the fourth quarter valued at about $134,000. Dimensional Fund Advisors LP raised its position in shares of Blue Buffalo Pet Products by 67.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 603,176 shares of the company’s stock valued at $14,500,000 after buying an additional 242,844 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Blue Buffalo Pet Products during the fourth quarter valued at about $485,000. Teachers Advisors LLC raised its position in shares of Blue Buffalo Pet Products by 103.4% in the fourth quarter. Teachers Advisors LLC now owns 150,066 shares of the company’s stock valued at $3,608,000 after buying an additional 76,305 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Blue Buffalo Pet Products by 12,091.4% in the first quarter. Bank of Montreal Can now owns 121,914 shares of the company’s stock valued at $2,804,000 after buying an additional 120,914 shares during the last quarter. Institutional investors and hedge funds own 87.11% of the company’s stock.

About Blue Buffalo Pet Products

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

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

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