Zacks Investment Research upgraded shares of Buffalo Wild Wings Inc. (NASDAQ:BWLD) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $157.00 price objective 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 analysts also recently issued reports on the stock. Vetr downgraded shares of Buffalo Wild Wings from a buy rating to a hold rating and set a $145.00 price objective for the company. in a research note on Monday, October 3rd. Maxim Group reaffirmed a hold rating and set a $155.00 target price (down from $170.00) on shares of Buffalo Wild Wings in a research report on Friday, September 30th. BMO Capital Markets reaffirmed a buy rating on shares of Buffalo Wild Wings in a research report on Monday, September 26th. Citigroup Inc. raised their target price on shares of Buffalo Wild Wings from $152.00 to $175.00 and gave the stock a neutral rating in a research report on Tuesday, September 13th. Finally, Robert W. Baird reaffirmed an outperform rating on shares of Buffalo Wild Wings in a research report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $162.85.
Buffalo Wild Wings (NASDAQ:BWLD) opened at 135.93 on Tuesday. The company has a 50-day moving average price of $155.32 and a 200 day moving average price of $148.20. The company has a market capitalization of $2.49 billion, a PE ratio of 25.58 and a beta of 0.92. Buffalo Wild Wings has a 52-week low of $122.25 and a 52-week high of $197.46.
Buffalo Wild Wings (NASDAQ:BWLD) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.01. The business earned $490.20 million during the quarter, compared to the consensus estimate of $498.86 million. Buffalo Wild Wings had a net margin of 5.19% and a return on equity of 15.57%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 earnings per share. Equities research 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 Buffalo Wild Wings stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $155.00, for a total value of $116,250.00. Following the completion of the transaction, the senior vice president now owns 4,963 shares of the company’s stock, valued at $769,265. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Block sold 250 shares of Buffalo Wild Wings stock in a transaction on Monday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $37,500.00. Following the completion of the transaction, the senior vice president now directly owns 4,963 shares of the company’s stock, valued at approximately $744,450. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC purchased a new position in Buffalo Wild Wings during the first quarter worth $28,156,000. Royal Bank of Canada boosted its position in Buffalo Wild Wings by 139.2% in the first quarter. Royal Bank of Canada now owns 306,992 shares of the company’s stock worth $45,471,000 after buying an additional 178,671 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Buffalo Wild Wings by 37.5% in the second quarter. Bank of New York Mellon Corp now owns 344,239 shares of the company’s stock worth $47,832,000 after buying an additional 93,923 shares during the last quarter. Franklin Resources Inc. boosted its position in 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 last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Buffalo Wild Wings during the second quarter worth $9,485,000. 94.76% of the stock is owned by institutional investors.
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.