Wedbush Increases Buffalo Wild Wings Price Target to $135.00 (BWLD)
Equities research analysts at Wedbush boosted their price objective on shares of Buffalo Wild Wings (NASDAQ:BWLD) from $120.00 to $135.00 in a research note issued to investors on Monday, American Banking News reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 23.29% from the stock’s previous close.
The analysts wrote, “Given reasonable comp expectations and a stable wing cost environment, we continue to believe upside to expectations exists. Q3 SSS growth tracking ahead of expectations. Our checks of 10% of company-owned locations indicate that SSS growth is currently tracking ahead of consensus of 2.8% in Q3. We note a reacceleration in traffic growth following a disappointing 1.5% QTD comp in July as the start of the football season, combined with increased success and buzz around specific teams in company-owned markets as well as effective traffic-driving specials and promos, has led to an increase in SSS growth in August and September. We also note an incremental 1% menu price increase that took effect July 15th, as well as an additional week of NFL and NCAA football games as further drivers of upside. We are slightly increasing our Q3 co-owned comp expectation to 3.1% from 2.8%.”
In other Buffalo Wild Wings news, CEO Sally Smith sold 1,000 shares of Buffalo Wild Wings stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $110.48, for a total transaction of $110,480.00. Following the completion of the sale, the chief executive officer now directly owns 68,609 shares of the company’s stock, valued at approximately $7,579,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
BWLD has been the subject of a number of other recent research reports. Analysts at Northcoast Research initiated coverage on shares of Buffalo Wild Wings (NASDAQ:BWLD) in a research note to investors on Wednesday, September 25th. They set a “buy” rating on the stock. Separately, analysts at Barclays Capital reiterated a “buy” rating on shares of Buffalo Wild Wings (NASDAQ:BWLD) in a research note to investors on Tuesday, August 27th. They now have a $115.00 price target on the stock. Finally, analysts at Wunderlich raised their price target on shares of Buffalo Wild Wings (NASDAQ:BWLD) from $117.00 to $118.00 in a research note to investors on Tuesday, August 27th. They now have a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $108.44.
Shares of Buffalo Wild Wings (NASDAQ:BWLD) traded up 1.76% on Monday, hitting $111.43. 394,877 shares of the company’s stock traded hands. Buffalo Wild Wings has a one year low of $69.72 and a one year high of $112.01. The stock’s 50-day moving average is $107.2 and its 200-day moving average is $98.02. The company has a market cap of $2.092 billion and a price-to-earnings ratio of 34.10.
Buffalo Wild Wings (NASDAQ:BWLD) last announced its earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.79 by $0.09. The company had revenue of $305.00 million for the quarter, compared to the consensus estimate of $304.54 million. During the same quarter last year, the company posted $0.62 earnings per share. Buffalo Wild Wings’s revenue was up 27.8% compared to the same quarter last year. Analysts expect that Buffalo Wild Wings will post $3.63 EPS for the current fiscal year.
Buffalo Wild Wings, Inc, is a owner, operator, and franchisor of restaurants. The Company features a variety of menu items, including its Buffalo, New York-style chicken wings spun in any of its 16 types of sauces or five types of seasonings.
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