BUFF Stock: Blue Buffalo Pet Products, Inc Earns “Buy” Rating from Oppenheimer Holdings, Inc.

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Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF)‘s stock had its “buy” rating reiterated by equities research analysts at Oppenheimer Holdings, Inc. in a report issued on Monday, November 6th. They presently have a $32.00 target price on the stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 10.12% from the stock’s previous close. Oppenheimer Holdings also issued estimates for Blue Buffalo Pet Products’ Q4 2017 earnings at $0.23 EPS.

Several other research analysts have also weighed in on BUFF. TheStreet raised Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research report on Friday, August 11th. Susquehanna Bancshares Inc reissued a “buy” rating and set a $30.00 target price (down from $32.00) on shares of Blue Buffalo Pet Products in a report on Monday, August 7th. Barclays PLC reissued a “buy” rating and set a $27.00 target price on shares of Blue Buffalo Pet Products in a report on Friday, August 11th. Gabelli initiated coverage on Blue Buffalo Pet Products in a report on Wednesday, September 6th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Zacks Investment Research raised Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.80.

Shares of Blue Buffalo Pet Products (NASDAQ BUFF) opened at $29.06 on Monday. Blue Buffalo Pet Products has a 12-month low of $21.51 and a 12-month high of $29.84. 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 company has a market capitalization of $5,660.00 and a PE ratio of 31.84.

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

Blue Buffalo Pet Products announced that its board has approved a stock repurchase program on Tuesday, August 8th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, CFO Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock in a transaction on Monday, August 21st. The stock was sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the firm’s stock in a transaction 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 directly owns 648,730 shares of the company’s stock, valued at $18,177,414.60. The disclosure for this sale can be found here. Insiders have sold 183,107 shares of company stock valued at $4,805,032 in the last ninety days. 7.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in BUFF. Parametric Portfolio Associates LLC increased its position in Blue Buffalo Pet Products by 207.0% in the first quarter. Parametric Portfolio Associates LLC now owns 98,343 shares of the company’s stock worth $2,262,000 after buying an additional 66,305 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Blue Buffalo Pet Products by 0.4% in the first quarter. Principal Financial Group Inc. now owns 13,046 shares of the company’s stock valued at $300,000 after purchasing an additional 56 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Blue Buffalo Pet Products by 1.2% in the first quarter. Wellington Management Group LLP now owns 166,708 shares of the company’s stock valued at $3,834,000 after purchasing an additional 1,961 shares in the last quarter. Legal & General Group Plc grew its position in shares of Blue Buffalo Pet Products by 164.6% in the first quarter. Legal & General Group Plc now owns 25,226 shares of the company’s stock valued at $580,000 after purchasing an additional 15,692 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Blue Buffalo Pet Products by 11.6% in the first quarter. Geode Capital Management LLC now owns 756,173 shares of the company’s stock valued at $17,391,000 after purchasing an additional 78,348 shares in the last quarter. 88.82% of the stock is 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.

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

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