Blue Buffalo Pet Products (NASDAQ:BUFF) announced that its board has initiated a stock buyback program, which permits the company to repurchase $50.00 million in shares on Tuesday, August 8th, EventVestor reports. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
Blue Buffalo Pet Products (NASDAQ BUFF) opened at 23.14 on Thursday. The company has a market capitalization of $4.55 billion, a P/E ratio of 34.03 and a beta of 1.95. Blue Buffalo Pet Products has a 1-year low of $21.55 and a 1-year high of $27.50. The firm has a 50-day moving average price of $22.72 and a 200 day moving average price of $23.80.
Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.21. The business had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a return on equity of 122.62% and a net margin of 11.69%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities analysts predict that Blue Buffalo Pet Products will post $0.92 EPS for the current year.
Several equities research analysts recently issued reports on the stock. J P Morgan Chase & Co increased their target price on shares of Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday. Susquehanna Bancshares Inc reissued a “buy” rating and issued a $30.00 target price (down from $32.00) on shares of Blue Buffalo Pet Products in a report on Monday. BidaskClub lowered shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Robert W. Baird assumed coverage on shares of Blue Buffalo Pet Products in a report on Monday, July 24th. They issued a “neutral” rating and a $23.00 target price for the company. Finally, Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Blue Buffalo Pet Products has an average rating of “Hold” and a consensus target price of $27.82.
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.
Receive News & Ratings for Blue Buffalo Pet Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Buffalo Pet Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.