Blue Buffalo Pet Products (BUFF) Stock Rating Upgraded by Wells Fargo & Company
Blue Buffalo Pet Products (NASDAQ:BUFF) was upgraded by Wells Fargo & Company to a “buy” rating in a report released on Friday. The firm currently has a $36.00 price target on the stock. Wells Fargo & Company’s price target suggests a potential upside of 13.56% from the company’s current price.
BUFF has been the subject of several other reports. TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research note on Friday, August 11th. Barclays reaffirmed a “buy” rating and set a $29.00 price objective on shares of Blue Buffalo Pet Products in a research note on Friday, November 10th. J P Morgan Chase & Co upped their price objective on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, August 21st. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price objective (down from $29.00) on shares of Blue Buffalo Pet Products in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Blue Buffalo Pet Products currently has an average rating of “Hold” and an average target price of $30.36.
Shares of Blue Buffalo Pet Products (NASDAQ BUFF) traded up $0.27 during trading hours on Friday, hitting $31.70. 1,025,000 shares of the stock traded hands, compared to its average volume of 1,417,492. The company has a market capitalization of $6,137.12, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 2.37 and a beta of 1.95. The company has a current ratio of 4.22, a quick ratio of 3.62 and a debt-to-equity ratio of 1.61. Blue Buffalo Pet Products has a 52-week low of $21.51 and a 52-week high of $31.77.
Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $340.85 million during the quarter, compared to the consensus estimate of $323.05 million. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. equities research analysts expect that Blue Buffalo Pet Products will post 0.91 earnings per share for the current fiscal year.
In other Blue Buffalo Pet Products news, insider William W. Bishop, Jr. sold 21,655 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $28.78, for a total value of $623,230.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $28.02, for a total transaction of $89,103.60. Following the completion of the sale, the chief executive officer now owns 648,730 shares in the company, valued at approximately $18,177,414.60. The disclosure for this sale can be found here. Insiders have sold 67,235 shares of company stock worth $1,969,071 in the last quarter. 7.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in Blue Buffalo Pet Products by 6.5% in the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after purchasing an additional 277 shares during the period. First Trust Advisors LP grew its holdings in Blue Buffalo Pet Products by 6.7% in the third quarter. First Trust Advisors LP now owns 161,443 shares of the company’s stock worth $4,577,000 after purchasing an additional 10,163 shares during the period. Alps Advisors Inc. purchased a new stake in Blue Buffalo Pet Products in the third quarter worth about $519,000. Alliancebernstein L.P. grew its holdings in Blue Buffalo Pet Products by 125.5% in the second quarter. Alliancebernstein L.P. now owns 54,207 shares of the company’s stock worth $1,236,000 after purchasing an additional 30,170 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Blue Buffalo Pet Products by 50.8% in the second quarter. Wells Fargo & Company MN now owns 2,133,359 shares of the company’s stock worth $48,662,000 after purchasing an additional 718,438 shares during the period. Institutional investors and hedge funds own 95.24% of the company’s stock.
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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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