Blue Buffalo Pet Products Inc (NASDAQ:BUFF) saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 29,705,600 shares traded hands during mid-day trading, an increase of 1,347% from the previous session’s volume of 2,052,850 shares.The stock last traded at $40.00 and had previously closed at $40.00.
The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Blue Buffalo Pet Products had a net margin of 15.18% and a return on equity of 84.29%. The company had revenue of $336.96 million during the quarter, compared to analysts’ expectations of $320.58 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Blue Buffalo Pet Products’s quarterly revenue was up 14.2% compared to the same quarter last year.
BUFF has been the subject of a number of research analyst reports. BidaskClub cut shares of Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Oppenheimer reiterated a “buy” rating and issued a $37.00 target price on shares of Blue Buffalo Pet Products in a research note on Wednesday, January 24th. Susquehanna Bancshares set a $41.00 target price on shares of Blue Buffalo Pet Products and gave the company a “buy” rating in a research note on Friday, December 22nd. Deutsche Bank cut shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Wednesday, December 13th. Finally, Wells Fargo & Co upgraded shares of Blue Buffalo Pet Products to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.85.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BUFF. The Manufacturers Life Insurance Company grew its holdings in Blue Buffalo Pet Products by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after acquiring an additional 533 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Blue Buffalo Pet Products by 44.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,388 shares of the company’s stock worth $177,000 after acquiring an additional 1,656 shares during the period. Turner Investments LLC acquired a new stake in Blue Buffalo Pet Products during the 3rd quarter worth $184,000. Envestnet Asset Management Inc. grew its holdings in Blue Buffalo Pet Products by 62.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock worth $184,000 after acquiring an additional 2,494 shares during the period. Finally, BB&T Securities LLC acquired a new stake in Blue Buffalo Pet Products during the 3rd quarter worth $204,000. 94.94% of the stock is owned by hedge funds and other institutional investors.
The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $7,810.52, a price-to-earnings ratio of 41.20, a P/E/G ratio of 2.35 and a beta of 1.83.
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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.
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