Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $0.91-$0.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.92. The company issued revenue guidance of $1.24-$1.27 billion, compared to the consensus revenue estimate of $1.24 billion.
A number of analysts have issued reports on the company. J P Morgan Chase & Co raised their target price on Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an overweight rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $25.00 price objective (down from $29.00) on shares of Blue Buffalo Pet Products in a research report on Thursday, August 10th. Zacks Investment Research raised Blue Buffalo Pet Products from a sell rating to a hold rating in a research report on Thursday, August 10th. Susquehanna Bancshares Inc reissued a buy rating and set a $30.00 price objective (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. Finally, TheStreet upgraded Blue Buffalo Pet Products from a c rating to a b- rating in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $27.00.
Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded up 0.24% during midday trading on Friday, hitting $24.66. The stock had a trading volume of 1,684,938 shares. The stock has a 50 day moving average of $22.82 and a 200-day moving average of $23.69. The company has a market cap of $4.86 billion, a P/E ratio of 34.73 and a beta of 1.95. Blue Buffalo Pet Products, Inc. has a one year low of $21.51 and a one year high of $26.72.
Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $294.80 million during the quarter, compared to the consensus estimate of $301.88 million. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. Blue Buffalo Pet Products’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. Analysts forecast that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current fiscal year.
Blue Buffalo Pet Products declared that its board has approved a share repurchase program on Tuesday, August 8th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CFO Michael Nathenson sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $1,250,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Blue Buffalo Pet Products stock. The Manufacturers Life Insurance Company raised its stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 9.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,070 shares of the company’s stock after buying 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. Hedge funds and other institutional investors own 87.11% 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.
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