Buffalo Wild Wings Inc. (BWLD) Stock Rating Upgraded by Zacks Investment Research
Buffalo Wild Wings Inc. (NASDAQ:BWLD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $157.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 11.84% from the company’s previous close.
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 brokerages have also issued reports on BWLD. Vetr upgraded Buffalo Wild Wings from a “sell” rating to a “hold” rating and set a $165.00 target price for the company in a research report on Monday, August 8th. Raymond James Financial Inc. lowered Buffalo Wild Wings from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 10th. Maxim Group lowered Buffalo Wild Wings from a “buy” rating to a “hold” rating and set a $170.00 target price for the company. in a research report on Tuesday, August 2nd. Credit Suisse Group AG upgraded Buffalo Wild Wings from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $130.00 to $165.00 in a research report on Tuesday, August 9th. Finally, Longbow Research lowered Buffalo Wild Wings from a “neutral” rating to an “underperform” rating and set a $125.00 target price for the company. in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Buffalo Wild Wings presently has a consensus rating of “Hold” and an average target price of $158.00.
Buffalo Wild Wings (NASDAQ:BWLD) traded down 0.16% on Tuesday, reaching $140.15. The company had a trading volume of 247,308 shares. Buffalo Wild Wings has a 52 week low of $122.25 and a 52 week high of $198.42. The stock’s 50-day moving average is $158.30 and its 200-day moving average is $148.46. The company has a market capitalization of $2.56 billion, a P/E ratio of 26.37 and a beta of 0.93.
Buffalo Wild Wings (NASDAQ:BWLD) last announced its earnings results 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 return on equity of 15.57% and a net margin of 5.19%. The business earned $490.20 million during the quarter, compared to analyst estimates of $498.86 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts forecast that Buffalo Wild Wings will post $5.72 EPS for the current fiscal year.
In related news, CEO Sally J. Smith sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $156.85, for a total transaction of $313,700.00. Following the completion of the transaction, the chief executive officer now owns 52,593 shares in the company, valued at approximately $8,249,212.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Block sold 250 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $37,500.00. Following the transaction, the senior vice president now owns 4,963 shares of the company’s stock, valued at approximately $744,450. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Buffalo Wild Wings by 71.3% in the second quarter. Sei Investments Co. now owns 1,028 shares of the company’s stock valued at $143,000 after buying an additional 428 shares during the period. LS Investment Advisors LLC increased its position in Buffalo Wild Wings by 69.7% in the second quarter. LS Investment Advisors LLC now owns 1,169 shares of the company’s stock valued at $162,000 after buying an additional 480 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in Buffalo Wild Wings during the first quarter valued at $182,000. Pacer Advisors Inc. bought a new position in Buffalo Wild Wings during the second quarter valued at $184,000. Finally, Quadrature Capital Ltd bought a new position in Buffalo Wild Wings during the first quarter valued at $207,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.
Buffalo Wild Wings Company Profile
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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