Blue Buffalo Pet Products, Inc. (BUFF) to Release Earnings on Tuesday
Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) will be releasing its earnings data after the market closes on Tuesday, November 7th. Analysts expect Blue Buffalo Pet Products to post earnings of $0.25 per share for the quarter. Blue Buffalo Pet Products has set its FY17 guidance at $0.91-$0.94 EPS.
Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $294.80 million during the quarter, compared to the consensus estimate of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. On average, analysts expect Blue Buffalo Pet Products to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at $27.24 on Monday. The stock has a market cap of $5,369.65, a price-to-earnings ratio of 32.43, a PEG ratio of 1.97 and a beta of 1.94. The company has a debt-to-equity ratio of 1.64, a quick ratio of 4.25 and a current ratio of 5.05. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.51 and a 1-year high of $29.84.
Blue Buffalo Pet Products declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, insider William W. Bishop, Jr. sold 21,200 shares of the stock in a transaction dated Tuesday, October 24th. The shares were 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 approximately $18,722,472.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William W. Bishop, Jr. sold 21,655 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $28.78, for a total transaction of $623,230.90. The disclosure for this sale can be found here. Insiders have sold a total of 229,927 shares of company stock worth $5,965,929 in the last three months. Insiders own 7.70% of the company’s stock.
An institutional investor recently raised its position in Blue Buffalo Pet Products stock. The Manufacturers Life Insurance Company increased its holdings in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,070 shares of the company’s stock after acquiring an additional 533 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Blue Buffalo Pet Products were worth $138,000 at the end of the most recent quarter. Institutional investors own 88.90% of the company’s stock.
A number of research firms recently weighed in on BUFF. BidaskClub downgraded Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $25.00 price objective (down from $29.00) on shares of Blue Buffalo Pet Products in a report on Thursday, August 10th. Gabelli began coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 6th. They set a “buy” rating and a $33.00 price target on the stock. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $30.00 price target (down previously from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. Finally, Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Blue Buffalo Pet Products has a consensus rating of “Hold” and an average price target of $29.55.
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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.
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