Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) – Research analysts at Oppenheimer Holdings decreased their Q4 2017 earnings per share (EPS) estimates for shares of Blue Buffalo Pet Products in a report issued on Tuesday. Oppenheimer Holdings analyst R. Parikh now expects that the company will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.23. Oppenheimer Holdings currently has a “Buy” rating and a $32.00 price target on the stock.

Several other brokerages have also recently commented on BUFF. Susquehanna Bancshares Inc increased their target price on Blue Buffalo Pet Products from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Thursday, September 21st. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Robert W. Baird started coverage on Blue Buffalo Pet Products in a report on Monday, July 24th. They set a “neutral” rating and a $23.00 target price on the stock. BidaskClub upgraded Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Finally, Sanford C. Bernstein began coverage on Blue Buffalo Pet Products in a report on Wednesday, September 13th. They set a “market perform” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.80.

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Shares of Blue Buffalo Pet Products (BUFF) opened at $27.18 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 4.25 and a current ratio of 4.22. The company has a market capitalization of $5,307.25, a price-to-earnings ratio of 30.54, a PEG ratio of 1.99 and a beta of 1.94. Blue Buffalo Pet Products has a 1-year low of $21.51 and a 1-year high of $29.84.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its earnings results on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $340.85 million for the quarter, compared to analysts’ expectations of $323.05 million. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share.

Blue Buffalo Pet Products declared that its board has authorized a stock repurchase plan on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

In other news, insider William W. Bishop, Jr. sold 21,200 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $28.58, for a total transaction of $605,896.00. Following the transaction, the insider now owns 655,090 shares of the company’s stock, valued at $18,722,472.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Nathenson sold 50,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $1,250,000. The disclosure for this sale can be found here. Insiders have sold 229,927 shares of company stock worth $5,965,929 in the last ninety days. 7.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Blue Buffalo Pet Products by 4.6% in the second quarter. Vanguard Group Inc. now owns 7,072,744 shares of the company’s stock valued at $161,330,000 after buying an additional 310,094 shares during the period. Bank of New York Mellon Corp lifted its stake in Blue Buffalo Pet Products by 50.3% in the second quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock valued at $119,411,000 after buying an additional 1,752,086 shares during the period. FMR LLC lifted its stake in Blue Buffalo Pet Products by 360.6% in the second quarter. FMR LLC now owns 3,320,428 shares of the company’s stock valued at $75,739,000 after buying an additional 2,599,478 shares during the period. Renaissance Technologies LLC lifted its stake in Blue Buffalo Pet Products by 22.0% in the second quarter. Renaissance Technologies LLC now owns 2,715,500 shares of the company’s stock valued at $61,941,000 after buying an additional 488,800 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Blue Buffalo Pet Products by 14.8% in the third quarter. Wells Fargo & Company MN now owns 2,448,233 shares of the company’s stock valued at $69,409,000 after buying an additional 314,874 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)

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