Zacks Investment Research downgraded shares of Buffalo Wild Wings, Inc. (NASDAQ:BWLD) from a hold rating to a sell rating in a report released on Tuesday.
According to Zacks, “Buffalo Wild Wings’ shares underperformed the industry year to date. Its earnings and revenues have been mostly missing the Zacks Consensus Estimate in the trailing 11 quarters. Moreover, comps have been under pressure due to the choppy restaurant sales environment. Notably, the menu price increases made by the company might affect traffic trends in the near term, thereby further weighing on traffic. Nevertheless, various innovative initiatives undertaken like menu innovation, promotional and value offerings, roll-out of loyalty program and delivery, enhancement of digital capabilities along with international expansion should aid in sales growth. The move to try small, fast food style stores given consumers inclination toward to-go and in-home dining experiences also bodes well. Still, higher traditional chicken wing prices along with other rising costs are anticipated to keep profits under pressure.”
Several other brokerages have also commented on BWLD. UBS AG restated a buy rating and issued a $175.00 price objective (down from $185.00) on shares of Buffalo Wild Wings in a report on Monday, June 12th. Stephens lowered shares of Buffalo Wild Wings from an overweight rating to an equal weight rating and lowered their price objective for the stock from $195.00 to $145.00 in a report on Wednesday, July 5th. Deutsche Bank AG restated a buy rating and issued a $180.00 price objective on shares of Buffalo Wild Wings in a report on Wednesday, June 28th. TheStreet lowered shares of Buffalo Wild Wings from a b- rating to a c rating in a report on Thursday, June 22nd. Finally, Canaccord Genuity lowered their price objective on shares of Buffalo Wild Wings from $160.00 to $135.00 and set a hold rating for the company in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $137.65.
Buffalo Wild Wings (NASDAQ:BWLD) opened at 102.30 on Tuesday. Buffalo Wild Wings has a 52 week low of $95.00 and a 52 week high of $175.10. The firm has a market capitalization of $1.59 billion, a P/E ratio of 25.91 and a beta of 0.83. The stock has a 50 day moving average price of $103.81 and a 200-day moving average price of $129.51.
Buffalo Wild Wings (NASDAQ:BWLD) last posted its earnings results on Wednesday, July 26th. The restaurant operator reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.35). The firm had revenue of $500.00 million for the quarter, compared to analysts’ expectations of $512.68 million. Buffalo Wild Wings had a return on equity of 17.14% and a net margin of 3.39%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.27 earnings per share. Analysts anticipate that Buffalo Wild Wings will post $4.47 EPS for the current fiscal year.
In related news, Director International Master F. Marcato bought 9,100 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average price of $109.71 per share, with a total value of $998,361.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.19% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Buffalo Wild Wings by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 350,269 shares of the restaurant operator’s stock worth $44,378,000 after purchasing an additional 2,701 shares during the period. Pacad Investment Ltd. grew its position in Buffalo Wild Wings by 23.7% in the 2nd quarter. Pacad Investment Ltd. now owns 9,400 shares of the restaurant operator’s stock worth $1,191,000 after purchasing an additional 1,800 shares during the period. Stifel Financial Corp grew its position in Buffalo Wild Wings by 15.2% in the 1st quarter. Stifel Financial Corp now owns 3,749 shares of the restaurant operator’s stock worth $574,000 after purchasing an additional 495 shares during the period. Creative Planning grew its position in Buffalo Wild Wings by 17.8% in the 2nd quarter. Creative Planning now owns 4,968 shares of the restaurant operator’s stock worth $629,000 after purchasing an additional 750 shares during the period. Finally, Wellington Management Group LLP grew its position in Buffalo Wild Wings by 29.7% in the 1st quarter. Wellington Management Group LLP now owns 79,266 shares of the restaurant operator’s stock worth $12,108,000 after purchasing an additional 18,141 shares during the period. 88.52% of the stock is owned by institutional investors and hedge funds.
Buffalo Wild Wings Company Profile
Buffalo Wild Wings, Inc is the owner, operator and franchisor of restaurants. As of December 25, 2016, the Company’s made-to-order menu items included 16 sauces and five seasonings, ranging from Sweet BBQ to Blazin. The Company’s restaurants offer 20 to 40 domestic and imported beers on tap, including craft brews, and a selection of bottled beers, wines and liquor.
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