Wunderlich Reiterates “Buy” Rating for Buffalo Wild Wings (BWLD)
Buffalo Wild Wings (NASDAQ:BWLD)‘s stock had its “buy” rating reiterated by equities researchers at Wunderlich in a research report issued on Tuesday, StockRatingsNetwork reports. They currently have a $180.00 target price on the stock, up from their previous target price of $165.00. Wunderlich’s price objective suggests a potential upside of 28.44% from the company’s current price.
The analysts wrote, “Buffalo Wild (BWLD) reported especially strong Q1 EPS growth of 71% to $1.49 vs. our $1.33/Street $1.34. The results reflect better-than-projected revenue, SSS, avg. weekly sales and rest. margins. Revenue grew 20.9% to $367.9mm aided by 11.6% unit growth, co-SSS of 6.6% and avg. wkly. sales +7.0%. Aided by lower wing prices, COGS declined 450bps as rest. margins expanded 450bps to 21.5% (vs. our 20.0%), driving the EPS beat. With Q2TD SSS off to a strong start (co 5.7%, franch 4.4%) and its commodity outlook favorable, 2014 EPS target was raised to 25% (~$4.75) from 20%. “Factoring more aggressive assumptions, we are raising 2014 EPS to $5.10 from $4.80, 2015 to $6.10 from $5.62. Applying a 30x P/E to our 2015 EPS, we have raised our PT to $180 from $165 and reiterate our Buy rating.”
Shares of Buffalo Wild Wings (NASDAQ:BWLD) traded up 5.06% during mid-day trading on Tuesday, hitting $140.14. 2,067,685 shares of the company’s stock traded hands. Buffalo Wild Wings has a one year low of $86.96 and a one year high of $159.81. The stock has a 50-day moving average of $144.8 and a 200-day moving average of $141.4. The company has a market cap of $2.636 billion and a price-to-earnings ratio of 35.20.
Buffalo Wild Wings (NASDAQ:BWLD) last announced its earnings results on Monday, April 28th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.15. The company had revenue of $367.90 million for the quarter, compared to the consensus estimate of $362.96 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, analysts predict that Buffalo Wild Wings will post $4.85 earnings per share for the current fiscal year.
In other Buffalo Wild Wings news, CEO Sally Smith sold 1,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $143.08, for a total value of $214,620.00. Following the sale, the chief executive officer now directly owns 80,040 shares in the company, valued at approximately $11,452,123. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Buffalo Wild Wings from $165.00 to $181.00 in a research note on Tuesday, April 15th. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Buffalo Wild Wings from $170.00 to $180.00 in a research note on Thursday, April 3rd. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Buffalo Wild Wings in a research note on Friday, March 28th. They now have a $170.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Buffalo Wild Wings currently has an average rating of “Buy” and a consensus price target of $147.87.
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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