Today, Susquehanna Reaffirmed “Buy” Rating for Blue Buffalo Pet Products Inc. (BUFF)

Today, Susquehanna Reaffirmed “Buy” Rating for Blue Buffalo Pet Products Inc. (BUFF)

Blue Buffalo Pet Products Inc. (NASDAQ:BUFF)‘s stock had its “buy” rating reissued by equities research analysts at Susquehanna in a research note issued to investors on Tuesday. They presently have a $29.00 price objective on the stock. Susquehanna’s price target would indicate a potential upside of 22.57% from the stock’s previous close.

BUFF has been the topic of a number of other reports. Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. Citigroup Inc. boosted their price target on shares of Blue Buffalo Pet Products from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Wedbush boosted their price target on shares of Blue Buffalo Pet Products from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 14th. DA Davidson restated a “buy” rating and set a $29.00 price target on shares of Blue Buffalo Pet Products in a research report on Monday, November 7th. Finally, Oppenheimer Holdings Inc. assumed coverage on shares of Blue Buffalo Pet Products in a research report on Thursday, September 8th. They set an “outperform” rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $29.00.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded up 0.47% during trading on Tuesday, reaching $23.66. 550,803 shares of the company’s stock were exchanged. The company has a 50 day moving average of $24.23 and a 200 day moving average of $25.02. The stock has a market cap of $4.65 billion, a P/E ratio of 44.56 and a beta of 2.27. Blue Buffalo Pet Products has a 12-month low of $15.19 and a 12-month high of $27.50.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $288 million for the quarter, compared to analyst estimates of $290.29 million. Blue Buffalo Pet Products had a net margin of 9.38% and a return on equity of 242.34%. Blue Buffalo Pet Products’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. Equities research analysts anticipate that Blue Buffalo Pet Products will post $0.79 EPS for the current year.

In related news, Director L.P. Invus sold 12,512,124 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kurt Schmidt sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was 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 directly owns 103,571 shares in the company, valued at $2,571,667.93. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in BUFF. Price T Rowe Associates Inc. MD increased its stake in shares of Blue Buffalo Pet Products by 395.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,535,697 shares of the company’s stock valued at $226,568,000 after buying an additional 7,609,159 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Blue Buffalo Pet Products by 94.0% in the second quarter. Vanguard Group Inc. now owns 5,299,211 shares of the company’s stock valued at $123,683,000 after buying an additional 2,567,667 shares during the last quarter. Hitchwood Capital Management LP increased its stake in shares of Blue Buffalo Pet Products by 2.9% in the second quarter. Hitchwood Capital Management LP now owns 3,600,000 shares of the company’s stock valued at $84,024,000 after buying an additional 100,000 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Blue Buffalo Pet Products by 3.2% in the second quarter. Neuberger Berman Group LLC now owns 2,593,167 shares of the company’s stock valued at $60,525,000 after buying an additional 80,003 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Blue Buffalo Pet Products by 68.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,439,087 shares of the company’s stock valued at $57,953,000 after buying an additional 987,288 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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