Blue Buffalo Pet Products, Inc. (BUFF) Forecasted to Post FY2017 Earnings of $0.91 Per Share
Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) – Research analysts at Oppenheimer Holdings increased their FY2017 EPS estimates for Blue Buffalo Pet Products in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst R. Parikh now forecasts that the company will earn $0.91 per share for the year, up from their previous estimate of $0.89. Oppenheimer Holdings currently has a “Buy” rating and a $32.00 target price on the stock. Oppenheimer Holdings also issued estimates for Blue Buffalo Pet Products’ Q4 2017 earnings at $0.22 EPS and FY2018 earnings at $0.98 EPS.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, meeting 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 company had revenue of $294.80 million for the quarter, compared to the consensus estimate of $301.88 million. During the same quarter last year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Blue Buffalo Pet Products, Inc. (BUFF) Forecasted to Post FY2017 Earnings of $0.91 Per Share” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/01/blue-buffalo-pet-products-inc-buff-forecasted-to-post-fy2017-earnings-of-0-91-per-share.html.
A number of other brokerages have also recently issued reports on BUFF. Susquehanna Bancshares Inc upped their price objective on Blue Buffalo Pet Products from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Thursday, September 21st. Sanford C. Bernstein began coverage on Blue Buffalo Pet Products in a research note on Wednesday, September 13th. They set a “market perform” rating and a $29.00 price objective on the stock. Citigroup Inc. reiterated a “top pick” rating on shares of Blue Buffalo Pet Products in a research note on Saturday, September 16th. Robert W. Baird reiterated a “hold” rating and set a $23.00 price objective on shares of Blue Buffalo Pet Products in a research note on Friday, September 1st. Finally, Gabelli began coverage on Blue Buffalo Pet Products in a research note on Wednesday, September 6th. They set a “buy” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.82.
Blue Buffalo Pet Products (NASDAQ BUFF) opened at 28.35 on Friday. The firm’s 50-day moving average price is $25.93 and its 200 day moving average price is $25.93. The firm has a market cap of $5.59 billion, a P/E ratio of 39.93 and a beta of 1.91. Blue Buffalo Pet Products has a one year low of $21.60 and a one year high of $28.58.
Blue Buffalo Pet Products declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $25.77, for a total transaction of $1,288,500.00. Following the transaction, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $1,288,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 187,072 shares of company stock worth $4,736,802 over the last three months. 7.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. FNY Partners Fund LP increased its holdings in shares of Blue Buffalo Pet Products by 63.7% during the 1st quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock worth $103,000 after acquiring an additional 1,751 shares during the last quarter. Advisor Group Inc. grew its holdings in Blue Buffalo Pet Products by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock valued at $103,000 after buying an additional 277 shares in the last quarter. SG Americas Securities LLC acquired a new position in Blue Buffalo Pet Products in the 2nd quarter valued at $138,000. The Manufacturers Life Insurance Company grew its holdings in Blue Buffalo Pet Products by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock valued at $138,000 after buying an additional 533 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Blue Buffalo Pet Products by 38.5% in the 1st quarter. US Bancorp DE now owns 7,193 shares of the company’s stock valued at $165,000 after buying an additional 2,000 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors and hedge funds.
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.
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