Zacks Investment Research upgraded shares of Buffalo Wild Wings Inc. (NASDAQ:BWLD) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $157.00 price target on the stock.
According to Zacks, “Buffalo Wild Wings has been posting positive comps over the past few years driven by strong market standing, new menu launches and increased media exposure. However, the company’s comps have declined in the past two quarters owing to lower traffic trends. Nevertheless, various innovative initiatives undertaken by the company should aid in reviving comps growth. Notably, the company keeps its guests engaged during major sporting events like the NFL playoffs, college football, bowl games and college basketball through promotional activities. Also, its association with popular beverage chains has been expanding its brand portfolio. Estimates too have been mostly going up ahead of the company’s Q3 earnings release. However, consistent earnings and revenues miss in the past few quarters raises concerns. Moreover, higher labor costs and other expenses related to the company’s initiatives might keep profits under pressure.”
Several other equities analysts also recently issued reports on the stock. BMO Capital Markets restated a buy rating and set a $165.00 price objective on shares of Buffalo Wild Wings in a report on Monday, June 20th. Vetr downgraded shares of Buffalo Wild Wings from a buy rating to a hold rating and set a $145.00 price objective on the stock. in a report on Monday. Guggenheim upgraded shares of Buffalo Wild Wings from a neutral rating to a buy rating and set a $190.00 price objective on the stock in a report on Friday, June 24th. Robert W. Baird restated an outperform rating on shares of Buffalo Wild Wings in a report on Thursday, September 8th. Finally, Maxim Group downgraded shares of Buffalo Wild Wings from a buy rating to a hold rating and set a $170.00 price objective on the stock. in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $158.00.
Buffalo Wild Wings (NASDAQ:BWLD) traded down 0.48% during midday trading on Tuesday, reaching $137.67. 75,500 shares of the company’s stock were exchanged. Buffalo Wild Wings has a 52 week low of $122.25 and a 52 week high of $197.80. The firm’s 50 day moving average is $156.24 and its 200 day moving average is $148.27. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 25.91 and a beta of 0.92.
Buffalo Wild Wings (NASDAQ:BWLD) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.01. Buffalo Wild Wings had a net margin of 5.19% and a return on equity of 15.57%. The firm had revenue of $490.20 million for the quarter, compared to the consensus estimate of $498.86 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts anticipate that Buffalo Wild Wings will post $5.72 earnings per share for the current year.
In other Buffalo Wild Wings news, SVP Andrew D. Block sold 750 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $155.00, for a total value of $116,250.00. Following the completion of the sale, the senior vice president now directly owns 4,963 shares of the company’s stock, valued at approximately $769,265. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sally J. Smith sold 1,500 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $136.55, for a total value of $204,825.00. The disclosure for this sale can be found here. 1.19% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of BWLD. Vanguard Group Inc. increased its stake in shares of Buffalo Wild Wings by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,370,477 shares of the company’s stock worth $190,428,000 after buying an additional 22,529 shares during the period. BlackRock Fund Advisors increased its stake in shares of Buffalo Wild Wings by 2.1% in the second quarter. BlackRock Fund Advisors now owns 953,162 shares of the company’s stock worth $132,442,000 after buying an additional 19,777 shares during the period. Franklin Resources Inc. increased its stake in shares of Buffalo Wild Wings by 11.7% in the second quarter. Franklin Resources Inc. now owns 671,035 shares of the company’s stock worth $93,261,000 after buying an additional 70,298 shares during the period. State Street Corp increased its stake in shares of Buffalo Wild Wings by 1.4% in the first quarter. State Street Corp now owns 607,106 shares of the company’s stock worth $89,924,000 after buying an additional 8,228 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Buffalo Wild Wings by 1.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 549,032 shares of the company’s stock worth $76,288,000 after buying an additional 8,764 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.
About Buffalo Wild Wings
Buffalo Wild Wings, Inc (Buffalo Wild Wings) is an owner, operator and franchisor of restaurants featuring various menu items. The Company’s restaurants feature a bar, which offers a selection of 20 to 30 domestic, imported and craft beers on tap, as well as bottled beers, wine and liquor. The Buffalo Wild Wings restaurants feature various menu items, including its Buffalo, New York-style chicken wings spun in one of its signature sauces from sweet to screamin’ hot, which includes Sweet barbeque (BBQ), Teriyaki, Bourbon Honey Mustard, Mild, Parmesan Garlic, Medium, Honey BBQ, Spicy Garlic, Asian Zing, Caribbean Jerk, Thai Curry, Hot BBQ, Hot, Mango Habanero, Wild and Blazin’, or signature seasonings, Buffalo, Desert Heat, Chipotle BBQ, Lemon Pepper, and Salt & Vinegar.
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