Citigroup Initiates Coverage on Blue Buffalo Pet Products Inc to Buy

Citigroup Initiates Coverage on Blue Buffalo Pet Products Inc(NASDAQ:BUFF). The shares have been rated Buy. The rating by Citigroup was issued on Jul 5, 2016.

Blue Buffalo Pet Products Inc (BUFF) made into the market gainers list on Fridays trading session with the shares advancing 1.19% or 0.3 points. Due to strong positive momentum, the stock ended at $25.5, which is also near the day’s high of $26.095. The stock began the session at $25.3 and the volume stood at 35,03,143 shares. The 52-week high of the shares is $28.8 and the 52 week low is $15.19. The company has a current market capitalization of $5,004 M and it has 19,62,38,320 shares in outstanding.

Blue Buffalo Pet Products Inc(BUFF) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $279.84M. Analysts had an estimated revenue of $274.63M. Earnings per share were $0.19. Analysts had estimated an EPS of $0.18.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2015, Christopher T Bishop (10% owner) sold 402,577 shares at $20.00 per share price.Also, On Jul 27, 2015, William W Jr Bishop (President and COO) sold 548,536 shares at $20.00 per share price.On Jul 27, 2015, Michael Nathenson (EVP, CFO and Treasurer) sold 63,758 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Blue Buffalo Pet Products Inc. is a pet food company in the United States selling dog and cat food made with whole meats fruits and vegetables and other natural ingredients. The Company has built four product lines under its BLUE brand. The Company develops produces markets and sells pet food under its product lines which include BLUE Life Protection Formula BLUE Wilderness BLUE Basics and BLUE Freedom. Each line of pet food includes different product types for dogs and cats such as dry food wet food and treats. The Company also produces and sells cat litter products under the BLUE Naturally Fresh line. The Company sells its products in the specialty channels either directly to retailers or through distributors. The specialty channels include national pet superstore chains regional pet store chains neighborhood pet stores veterinary clinics farm and feed stores e-commerce retailers military outlets and hardware stores.

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