Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) – Research analysts at Oppenheimer Holdings reduced their Q3 2017 earnings estimates for shares of Blue Buffalo Pet Products in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst R. Parikh now expects that the company will earn $0.24 per share for the quarter, down from their previous forecast of $0.26. Oppenheimer Holdings also issued estimates for Blue Buffalo Pet Products’ FY2017 earnings at $0.89 EPS and FY2018 earnings at $0.97 EPS.

Other equities analysts have also recently issued research reports about the company. Imperial Capital began coverage on Blue Buffalo Pet Products in a research note on Wednesday, June 28th. They set an “outperform” rating and a $30.00 target price on the stock. J P Morgan Chase & Co lifted their target price on Blue Buffalo Pet Products from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday. BidaskClub cut Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $30.00 target price (down previously from $32.00) on shares of Blue Buffalo Pet Products in a research note on Monday. Finally, Zacks Investment Research cut Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $27.82.

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Blue Buffalo Pet Products (NASDAQ:BUFF) opened at 23.14 on Thursday. Blue Buffalo Pet Products has a one year low of $21.51 and a one year high of $27.50. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 34.03 and a beta of 1.95. The stock’s 50 day moving average is $22.58 and its 200 day moving average is $23.72.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. The business had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 112.54%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS.

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Blue Buffalo Pet Products by 50.3% in the second quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock valued at $119,411,000 after buying an additional 1,752,086 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Blue Buffalo Pet Products by 69.8% in the first quarter. Clearbridge Investments LLC now owns 3,523,195 shares of the company’s stock valued at $81,033,000 after buying an additional 1,447,859 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Blue Buffalo Pet Products by 139.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,066,507 shares of the company’s stock valued at $47,530,000 after buying an additional 1,202,040 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Blue Buffalo Pet Products during the first quarter valued at about $24,304,000. Finally, Renaissance Technologies LLC raised its stake in shares of Blue Buffalo Pet Products by 88.5% in the first quarter. Renaissance Technologies LLC now owns 2,226,700 shares of the company’s stock valued at $51,214,000 after buying an additional 1,045,700 shares in the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.

Blue Buffalo Pet Products announced that its board has authorized a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.

Earnings History and Estimates for Blue Buffalo Pet Products (NASDAQ:BUFF)

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