Shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF) hit a new 52-week high on Wednesday . The stock traded as high as $34.29 and last traded at $34.28, with a volume of 804381 shares changing hands. The stock had previously closed at $33.10.

Several analysts recently weighed in on BUFF shares. BidaskClub upgraded Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Susquehanna Bancshares set a $34.00 target price on Blue Buffalo Pet Products and gave the company a “buy” rating in a research note on Friday, October 20th. Wells Fargo & Co upgraded Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price for the company in a research note on Friday, December 8th. Oppenheimer restated a “buy” rating and set a $37.00 target price on shares of Blue Buffalo Pet Products in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. downgraded Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.54.

The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $6,670.00 and a PE ratio of 38.82.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The company had revenue of $340.85 million during the quarter, compared to the consensus estimate of $323.05 million. During the same quarter last year, the company earned $0.22 EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. analysts predict that Blue Buffalo Pet Products Inc will post 0.91 earnings per share for the current year.

In other Blue Buffalo Pet Products news, CEO William W. Bishop, Jr. sold 3,180 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $28.02, for a total value of $89,103.60. Following the completion of the sale, the chief executive officer now owns 648,730 shares in the company, valued at approximately $18,177,414.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $33.17, for a total value of $703,204.00. Following the completion of the sale, the insider now owns 616,930 shares of the company’s stock, valued at approximately $20,463,568.10. The disclosure for this sale can be found here. Insiders sold a total of 175,068 shares of company stock valued at $5,673,921 in the last quarter. Corporate insiders own 7.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. raised its holdings in shares of Blue Buffalo Pet Products by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after buying an additional 277 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 worth $138,000 after buying an additional 533 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Blue Buffalo Pet Products by 44.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,388 shares of the company’s stock worth $177,000 after buying an additional 1,656 shares in the last quarter. Turner Investments LLC acquired a new position in shares of Blue Buffalo Pet Products in the 3rd quarter worth approximately $184,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Blue Buffalo Pet Products by 62.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock worth $184,000 after buying an additional 2,494 shares in the last quarter. Institutional investors own 94.67% of the company’s stock.

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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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