Oppenheimer Holdings, Inc. reiterated their buy rating on shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) in a research note issued to investors on Wednesday. Oppenheimer Holdings, Inc. currently has a $32.00 price objective on the stock, up from their previous price objective of $25.00. Oppenheimer Holdings also issued estimates for Blue Buffalo Pet Products’ Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.91 EPS, FY2018 earnings at $0.98 EPS and FY2019 earnings at $1.18 EPS.

Several other research analysts also recently weighed in on BUFF. Off Wall Street initiated coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, June 21st. They set a sell rating on the stock. Imperial Capital initiated coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, June 28th. They set an outperform rating and a $30.00 price objective on the stock. J P Morgan Chase & Co restated an overweight rating and set a $25.00 price objective (down previously from $28.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, June 28th. BidaskClub downgraded shares of Blue Buffalo Pet Products from a sell rating to a strong sell rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research downgraded shares of Blue Buffalo Pet Products from a hold rating to a strong sell rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Blue Buffalo Pet Products currently has an average rating of Buy and an average price target of $28.82.

Blue Buffalo Pet Products (BUFF) opened at 28.35 on Wednesday. The company has a 50-day moving average of $25.93 and a 200-day moving average of $25.93. Blue Buffalo Pet Products has a 52-week low of $21.60 and a 52-week high of $28.58. The company has a market cap of $5.59 billion, a P/E ratio of 39.93 and a beta of 1.91.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The firm had revenue of $294.80 million for the quarter, compared to the consensus estimate of $301.88 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Blue Buffalo Pet Products will post $0.92 earnings per share for the current fiscal year.

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Blue Buffalo Pet Products announced that its board has initiated a stock buyback program 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 programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, CFO Michael Nathenson sold 37,072 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $25.58, for a total value of $948,301.76. Following the completion of the sale, the chief financial officer now owns 37,072 shares in the company, valued at approximately $948,301.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 187,072 shares of company stock valued at $4,736,802. Company insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Blue Buffalo Pet Products in the 2nd quarter worth $583,000. Public Employees Retirement System of Ohio grew its stake in shares of Blue Buffalo Pet Products by 65.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,066 shares of the company’s stock worth $845,000 after acquiring an additional 14,670 shares in the last quarter. Koch Industries Inc. grew its stake in shares of Blue Buffalo Pet Products by 1,913.6% in the 2nd quarter. Koch Industries Inc. now owns 282,029 shares of the company’s stock worth $270,000 after acquiring an additional 268,023 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Blue Buffalo Pet Products by 40.8% in the 2nd quarter. California State Teachers Retirement System now owns 166,563 shares of the company’s stock worth $3,799,000 after acquiring an additional 48,290 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Blue Buffalo Pet Products by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after acquiring an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.

Blue Buffalo Pet Products Company Profile

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.

Analyst Recommendations for Blue Buffalo Pet Products (NASDAQ:BUFF)

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