The Blue Buffalo Pet Products Inc. (BUFF) gets “Hold” status at Zacks Investment Research

The Blue Buffalo Pet Products Inc. (BUFF) gets “Hold” status at Zacks Investment Research

Zacks Investment Research cut shares of Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Blue Buffalo Pet Products, Inc. develops, produces, markets and sells pet food primarily in the United States. The Company’s product lines include BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Naturally Fresh line. It offers dry foods, wet foods as well as treats for puppies, adult dogs, senior dogs and litters for kittens, adult cats and mature cats. Blue Buffalo Pet Products, Inc. is headquartered in Wilton, Connecticut. “

Several other research firms also recently weighed in on BUFF. Wedbush reissued a neutral rating and issued a $25.00 price target (up from $24.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, August 10th. Deutsche Bank AG raised their price objective on shares of Blue Buffalo Pet Products from $28.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. raised their price objective on shares of Blue Buffalo Pet Products from $28.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday, August 11th. Stephens restated a hold rating on shares of Blue Buffalo Pet Products in a research report on Thursday, June 30th. Finally, Citigroup Inc. assumed coverage on shares of Blue Buffalo Pet Products in a research report on Tuesday, July 5th. They set a buy rating for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Blue Buffalo Pet Products has an average rating of Buy and an average target price of $28.50.

Blue Buffalo Pet Products (NASDAQ:BUFF) traded down 0.41% during mid-day trading on Tuesday, hitting $24.46. 186,636 shares of the stock were exchanged. Blue Buffalo Pet Products has a 52-week low of $15.19 and a 52-week high of $27.50. The stock’s 50 day moving average is $24.89 and its 200 day moving average is $25.08. The stock has a market cap of $4.80 billion, a PE ratio of 44.47 and a beta of 2.39.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The firm had revenue of $286.85 million for the quarter, compared to the consensus estimate of $281.90 million. Blue Buffalo Pet Products had a net margin of 10.14% and a return on equity of 406.20%. Blue Buffalo Pet Products’s quarterly revenue was up 12.9% on a year-over-year basis. Analysts forecast that Blue Buffalo Pet Products will post $0.76 EPS for the current fiscal year.

In other Blue Buffalo Pet Products news, Director L.P. Invus sold 12,512,124 shares of Blue Buffalo Pet Products stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $24.83, for a total transaction of $310,676,038.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kurt Schmidt sold 50,000 shares of Blue Buffalo Pet Products stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $24.83, for a total transaction of $1,241,500.00. Following the sale, the chief executive officer now owns 103,571 shares of the company’s stock, valued at $2,571,667.93. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY boosted its stake in shares of Blue Buffalo Pet Products by 96.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,485 shares of the company’s stock worth $105,000 after buying an additional 2,205 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Blue Buffalo Pet Products during the second quarter valued at approximately $118,000. BlackRock Japan Co. Ltd raised its position in Blue Buffalo Pet Products by 382.9% in the second quarter. BlackRock Japan Co. Ltd now owns 5,447 shares of the company’s stock valued at $127,000 after buying an additional 4,319 shares during the last quarter. Legal & General Group Plc raised its position in Blue Buffalo Pet Products by 2.1% in the second quarter. Legal & General Group Plc now owns 5,655 shares of the company’s stock valued at $132,000 after buying an additional 116 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Blue Buffalo Pet Products by 578.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,737 shares of the company’s stock valued at $157,000 after buying an additional 5,744 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

About Blue Buffalo Pet Products

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Blue Buffalo Company, Ltd. (Blue), Blue Buffalo Import Mexico, S.

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