Blue Buffalo Pet Products (BUFF) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Blue Buffalo Pet Products (NASDAQ:BUFF) released its earnings results on Friday. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06, Bloomberg Earnings reports. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The business had revenue of $336.96 million for the quarter, compared to analyst estimates of $320.58 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. Blue Buffalo Pet Products’s revenue was up 14.2% on a year-over-year basis. Blue Buffalo Pet Products updated its FY18 guidance to $1.20-1.24 EPS.
Shares of Blue Buffalo Pet Products (BUFF) opened at $40.00 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 4.22 and a quick ratio of 3.62. The stock has a market capitalization of $7,810.52, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 2.35 and a beta of 1.83. Blue Buffalo Pet Products has a 52 week low of $21.51 and a 52 week high of $40.08.
BUFF has been the topic of several analyst reports. BidaskClub upgraded Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Monday, January 15th. Wells Fargo & Co upgraded Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, December 8th. Susquehanna Bancshares set a $41.00 target price on Blue Buffalo Pet Products and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, Delafield Hambrecht lowered Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $33.85.
A hedge fund recently raised its stake in Blue Buffalo Pet Products stock. The Manufacturers Life Insurance Company grew its position in Blue Buffalo Pet Products Inc (NASDAQ:BUFF) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,070 shares of the company’s stock after purchasing an additional 533 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Blue Buffalo Pet Products were worth $138,000 as of its most recent SEC filing. Institutional investors own 94.94% of the company’s stock.
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.
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