Delafield Hambrecht Downgrades Blue Buffalo Pet Products (BUFF) to Hold

Blue Buffalo Pet Products (NASDAQ:BUFF) was downgraded by research analysts at Delafield Hambrecht from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other research analysts have also recently issued research reports about the stock. Gabelli began coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 6th. They set a “buy” rating and a $33.00 price target on the stock. Susquehanna Bancshares lifted their price target on shares of Blue Buffalo Pet Products from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Thursday, September 21st. BidaskClub cut shares of Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a research note on Friday. Oppenheimer reiterated a “buy” rating and set a $32.00 price target (up previously from $25.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 27th. Finally, Sanford C. Bernstein began coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 13th. They set a “market perform” rating and a $29.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.67.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) opened at $31.94 on Friday. The company has a market cap of $6,236.70, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 2.18 and a beta of 1.95. Blue Buffalo Pet Products has a 1 year low of $21.51 and a 1 year high of $32.67. The company has a debt-to-equity ratio of 1.61, a current ratio of 4.22 and a quick ratio of 3.62.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business had revenue of $340.85 million for the quarter, compared to analysts’ expectations 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 revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. equities analysts expect that Blue Buffalo Pet Products will post 0.91 earnings per share for the current year.

In related news, insider William W. Bishop, Jr. sold 21,655 shares of Blue Buffalo Pet Products stock in a transaction on Friday, October 13th. The shares were sold at an average price of $28.78, for a total transaction of $623,230.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of Blue Buffalo Pet Products stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $32.25, for a total transaction of $683,700.00. Following the transaction, the insider now owns 636,010 shares in the company, valued at approximately $20,511,322.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,435 shares of company stock worth $2,652,771. 7.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BUFF. FMR LLC lifted its stake in Blue Buffalo Pet Products by 360.6% in the 2nd quarter. FMR LLC now owns 3,320,428 shares of the company’s stock worth $75,739,000 after purchasing an additional 2,599,478 shares in the last quarter. Harris Associates L P purchased a new stake in Blue Buffalo Pet Products in the 2nd quarter worth $53,476,000. Bank of New York Mellon Corp lifted its stake in Blue Buffalo Pet Products by 50.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock worth $119,411,000 after purchasing an additional 1,752,086 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Blue Buffalo Pet Products in the 3rd quarter worth $47,841,000. Finally, Marshall Wace North America L.P. lifted its stake in Blue Buffalo Pet Products by 693.2% in the 2nd quarter. Marshall Wace North America L.P. now owns 995,109 shares of the company’s stock worth $22,887,000 after purchasing an additional 869,657 shares in the last quarter. Institutional investors own 95.24% of the company’s stock.

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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.

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

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