Blue Buffalo Pet Products (BUFF) Cut to Hold at BidaskClub

Blue Buffalo Pet Products (NASDAQ:BUFF) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo lowered shares of Blue Buffalo Pet Products from an “outperform” rating to a “market perform” rating and upped their target price for the company from $36.00 to $40.00 in a research note on Tuesday, February 27th. Citigroup upped their target price on shares of Blue Buffalo Pet Products from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Susquehanna Bancshares set a $41.00 target price on shares of Blue Buffalo Pet Products and gave the company a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, January 15th. Finally, Societe Generale lowered shares of Blue Buffalo Pet Products from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.50.

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Shares of BUFF stock opened at $39.98 on Thursday. Blue Buffalo Pet Products has a 12 month low of $21.51 and a 12 month high of $40.15. The company has a current ratio of 3.74, a quick ratio of 3.17 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $7,827.70, a price-to-earnings ratio of 42.08, a PEG ratio of 1.41 and a beta of 1.38.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Blue Buffalo Pet Products had a net margin of 15.18% and a return on equity of 77.83%. The firm had revenue of $336.96 million for the quarter, compared to analyst estimates of $320.58 million. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. sell-side analysts forecast that Blue Buffalo Pet Products will post 1.18 EPS for the current fiscal year.

In other Blue Buffalo Pet Products news, insider William W. Bishop, Jr. sold 21,200 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $32.63, for a total value of $691,756.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the company’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $39.88, for a total transaction of $126,818.40. Following the completion of the transaction, the chief executive officer now owns 591,490 shares of the company’s stock, valued at approximately $23,588,621.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,180 shares of company stock worth $3,913,562. 7.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vigilant Capital Management LLC grew its position in Blue Buffalo Pet Products by 2.1% in the 4th quarter. Vigilant Capital Management LLC now owns 424,271 shares of the company’s stock worth $13,912,000 after purchasing an additional 8,781 shares during the last quarter. Weik Capital Management bought a new position in Blue Buffalo Pet Products in the 4th quarter worth about $354,000. BB&T Corp boosted its holdings in shares of Blue Buffalo Pet Products by 8.1% in the fourth quarter. BB&T Corp now owns 50,438 shares of the company’s stock valued at $1,654,000 after acquiring an additional 3,767 shares in the last quarter. AXA bought a new position in shares of Blue Buffalo Pet Products in the fourth quarter valued at approximately $371,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Blue Buffalo Pet Products by 8.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,056,669 shares of the company’s stock valued at $29,958,000 after acquiring an additional 83,623 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

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Blue Buffalo Pet Products Company Profile

Blue Buffalo Pet Products, Inc, through its subsidiary, Blue Buffalo Company, Ltd., operates as a pet food company in the United States, Canada, Japan, and Mexico. It develops, produces, markets, and sells dog and cat food under the 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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