Zacks Investment Research upgraded shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $28.00 price target on the stock.

According to Zacks, “Blue Buffalo Pet Products, Inc. develops, produces, markets and sells pet food primarily in the United States. The Company’s product lines include BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Naturally Fresh line. It offers dry foods, wet foods as well as treats for puppies, adult dogs, senior dogs and litters for kittens, adult cats and mature cats. Blue Buffalo Pet Products, Inc. is headquartered in Wilton, Connecticut. “

BUFF has been the topic of a number of other research reports. Susquehanna reaffirmed a buy rating and issued a $29.00 price target on shares of Blue Buffalo Pet Products in a research note on Tuesday, November 8th. DA Davidson reaffirmed a buy rating and issued a $29.00 price target on shares of Blue Buffalo Pet Products in a research note on Monday, November 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $29.38.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded up 0.20% on Tuesday, hitting $24.87. 109,703 shares of the stock traded hands. The firm has a market capitalization of $4.89 billion, a PE ratio of 46.84 and a beta of 2.05. The firm’s 50 day moving average is $24.11 and its 200 day moving average is $24.75. Blue Buffalo Pet Products has a 52 week low of $15.19 and a 52 week high of $27.50.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings data on Thursday, November 10th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Blue Buffalo Pet Products had a net margin of 9.38% and a return on equity of 242.34%. The business had revenue of $288 million for the quarter, compared to analyst estimates of $290.29 million. During the same quarter last year, the firm earned $0.14 EPS. Blue Buffalo Pet Products’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Blue Buffalo Pet Products will post $0.79 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Blue Buffalo Pet Products by 395.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,535,697 shares of the company’s stock worth $226,568,000 after buying an additional 7,609,159 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Blue Buffalo Pet Products by 94.0% in the second quarter. Vanguard Group Inc. now owns 5,299,211 shares of the company’s stock worth $123,683,000 after buying an additional 2,567,667 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Blue Buffalo Pet Products during the second quarter worth $38,618,000. BlackRock Institutional Trust Company N.A. increased its position in shares of Blue Buffalo Pet Products by 68.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,439,087 shares of the company’s stock worth $57,953,000 after buying an additional 987,288 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Blue Buffalo Pet Products by 206.4% in the third quarter. Morgan Stanley now owns 1,055,520 shares of the company’s stock worth $25,079,000 after buying an additional 711,000 shares during the last quarter. Institutional investors own 85.32% of the company’s stock.

Blue Buffalo Pet Products Company Profile

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Blue Buffalo Company, Ltd. (Blue), Blue Buffalo Import Mexico, S.

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