Oppenheimer Holdings Equities Analysts Increase Earnings Estimates for Blue Buffalo Pet Products, Inc. (BUFF)

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) – Equities researchers at Oppenheimer Holdings lifted their FY2017 EPS estimates for Blue Buffalo Pet Products in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst R. Parikh now anticipates that the company will post earnings of $0.91 per share for the year, up from their prior forecast of $0.89. Oppenheimer Holdings has a “Buy” rating and a $32.00 price objective 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.

BUFF has been the topic of several other reports. TheStreet raised Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a report on Friday, August 11th. J P Morgan Chase & Co lifted their target price on Blue Buffalo Pet Products from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, August 21st. BidaskClub cut Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research cut Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. Finally, Susquehanna Bancshares Inc reaffirmed 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, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Blue Buffalo Pet Products presently has a consensus rating of “Buy” and an average price target of $28.82.

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Blue Buffalo Pet Products (NASDAQ BUFF) opened at 28.55 on Friday. The stock’s 50 day moving average price is $25.93 and its 200 day moving average price is $25.93. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 40.21 and a beta of 1.91. Blue Buffalo Pet Products has a 12 month low of $21.60 and a 12 month high of $28.96.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 EPS.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Blue Buffalo Pet Products by 4.6% during the second quarter. Vanguard Group Inc. now owns 7,072,744 shares of the company’s stock valued at $161,330,000 after buying an additional 310,094 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Blue Buffalo Pet Products by 50.3% during the second quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock valued at $119,411,000 after buying an additional 1,752,086 shares during the period. Clearbridge Investments LLC boosted its position in shares of Blue Buffalo Pet Products by 69.8% during the first quarter. Clearbridge Investments LLC now owns 3,523,195 shares of the company’s stock valued at $81,033,000 after buying an additional 1,447,859 shares during the period. FMR LLC boosted its position in shares of Blue Buffalo Pet Products by 360.6% during the second quarter. FMR LLC now owns 3,320,428 shares of the company’s stock valued at $75,739,000 after buying an additional 2,599,478 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Blue Buffalo Pet Products by 22.0% during the second quarter. Renaissance Technologies LLC now owns 2,715,500 shares of the company’s stock valued at $61,941,000 after buying an additional 488,800 shares during the period. Institutional investors and hedge funds own 88.74% of the company’s stock.

In other Blue Buffalo Pet Products news, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 187,072 shares of company stock valued at $4,736,802 in the last 90 days. Company insiders own 7.70% of the company’s stock.

Blue Buffalo Pet Products announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.

Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)




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