Citigroup Boosts Blue Buffalo Pet Products (BUFF) Price Target to $39.00

Blue Buffalo Pet Products (NASDAQ:BUFF) had its target price upped by stock analysts at Citigroup from $33.00 to $39.00 in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 16.80% from the stock’s current price.

Several other research firms have also issued reports on BUFF. Oppenheimer reissued a “buy” rating and set a $32.00 price objective (up previously from $25.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 27th. Susquehanna Bancshares raised their price target on Blue Buffalo Pet Products from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Thursday, September 21st. BidaskClub upgraded Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Wells Fargo & Co upgraded Blue Buffalo Pet Products to a “buy” rating and set a $36.00 price target on the stock in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. downgraded Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $32.15.

Blue Buffalo Pet Products (BUFF) traded down $0.41 during trading hours on Tuesday, reaching $33.39. The company had a trading volume of 681,645 shares, compared to its average volume of 1,160,000. The company has a market capitalization of $6,520.00 and a price-to-earnings ratio of 37.94. Blue Buffalo Pet Products has a 12 month low of $21.51 and a 12 month high of $34.19. The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $340.85 million during the quarter, compared to analyst estimates of $323.05 million. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. equities analysts predict that Blue Buffalo Pet Products will post 0.91 earnings per share for the current year.

In other news, CEO William W. Bishop, Jr. sold 3,180 shares of Blue Buffalo Pet Products stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $28.02, for a total value of $89,103.60. Following the transaction, the chief executive officer now owns 648,730 shares in the company, valued at $18,177,414.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William W. Bishop, Jr. sold 21,200 shares of Blue Buffalo Pet Products stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $28.58, for a total value of $605,896.00. Following the completion of the transaction, the insider now owns 655,090 shares in the company, valued at approximately $18,722,472.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,068 shares of company stock worth $5,576,613. Company insiders own 7.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of 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 worth $161,330,000 after buying an additional 310,094 shares during the period. FMR LLC increased its holdings in shares of Blue Buffalo Pet Products by 360.6% in the second quarter. FMR LLC now owns 3,320,428 shares of the company’s stock worth $75,739,000 after buying an additional 2,599,478 shares during the period. Renaissance Technologies LLC increased its holdings in shares of 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 worth $61,941,000 after buying an additional 488,800 shares during the period. Wells Fargo & Company MN increased its holdings in shares of 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 worth $69,409,000 after buying an additional 314,874 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Blue Buffalo Pet Products by 3.3% during the 3rd quarter. Mackenzie Financial Corp now owns 2,401,187 shares of the company’s stock valued at $68,074,000 after purchasing an additional 76,944 shares during the period. Hedge funds and other institutional investors own 94.82% 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.

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

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