Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) Receives Consensus Recommendation of “Hold” from Brokerages

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) has been given a consensus rating of “Hold” by the thirteen ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $27.56.

A number of research firms recently weighed in on BUFF. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Blue Buffalo Pet Products in a research note on Thursday, April 20th. Zacks Investment Research cut shares of 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 shares of Blue Buffalo Pet Products in a research note on Wednesday, June 21st. They set a “sell” rating on the stock. Robert W. Baird started coverage on shares of Blue Buffalo Pet Products in a research note on Monday, July 24th. They set a “neutral” rating and a $23.00 price objective on the stock. Finally, BidaskClub raised shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th.

Blue Buffalo Pet Products (NASDAQ BUFF) opened at 23.14 on Monday. The firm has a market capitalization of $4.55 billion, a PE ratio of 34.03 and a beta of 1.95. The stock’s 50 day moving average price is $22.72 and its 200 day moving average price is $23.80. Blue Buffalo Pet Products has a 52-week low of $21.55 and a 52-week high of $27.50.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. The business had revenue of $294.80 million for the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a net margin of 11.69% and a return on equity of 122.62%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Analysts expect that Blue Buffalo Pet Products will post $0.92 earnings per share for the current year.

Blue Buffalo Pet Products declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 8th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised 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 buying an additional 56 shares in the last quarter. NGAM Advisors L.P. raised its position in shares of Blue Buffalo Pet Products by 0.4% in the second quarter. NGAM Advisors L.P. now owns 27,961 shares of the company’s stock valued at $638,000 after buying an additional 105 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Blue Buffalo Pet Products by 2.5% in the first quarter. Argent Capital Management LLC now owns 20,780 shares of the company’s stock valued at $478,000 after buying an additional 500 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Blue Buffalo Pet Products by 1.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 51,625 shares of the company’s stock valued at $1,178,000 after buying an additional 730 shares in the last quarter. Finally, Gradient Investments LLC raised its position in shares of Blue Buffalo Pet Products by 6.2% in the second quarter. Gradient Investments LLC now owns 13,925 shares of the company’s stock valued at $318,000 after buying an additional 817 shares in the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.

Blue Buffalo Pet Products Company Profile

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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