Zacks Downgrades Buffalo Wild Wings to Neutral (BWLD)
Buffalo Wild Wings (NASDAQ:BWLD) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Thursday. They currently have a $151.00 target price on the stock. Zacks‘s price objective would indicate a potential upside of 4.93% from the stock’s previous close.
Zacks’ analyst wrote, “Buffalo Wild Wings’ second quarter 2014 adjusted earnings of $1.25 per share beat the Zacks Consensus Estimate by a nickel and were up 42% year over year on the back of solid top-line growth and lower cost of sales. Total revenue increased 20% year over year and also beat the consensus mark by 1.4% driven by strong comps and new unit openings. The company has been consistently posting positive comps for the past two years. Further, we are encouraged by the company’s strong market standing, new menu launches and increased media exposure. Also, its associations with the NCAA and beverage chains increase its visibility as a brand. Despite all these positives, we revert to a Neutral recommendation on Buffalo Wild Wings from Outperform given the rising cost burden on the company. Food, labor and other costs are expected to dampen 2014 earnings. “
In other Buffalo Wild Wings news, Director Warren E. Mack unloaded 1,000 shares of Buffalo Wild Wings stock on the open market in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $144.52, for a total transaction of $144,520.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on BWLD. Analysts at S&P Equity Research raised their price target on shares of Buffalo Wild Wings from $3.06 to $3.80 in a research note on Tuesday. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Separately, analysts at Morgan Stanley upgraded shares of Buffalo Wild Wings from an “underweight” rating to an “equal weight” rating in a research note on Tuesday. They now have a $148.00 price target on the stock. Finally, analysts at Sterne Agee upgraded shares of Buffalo Wild Wings from a “neutral” rating to a “buy” rating in a research note on Thursday, July 31st. They now have a $176.00 price target on the stock, up previously from $145.17. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $142.49.
Buffalo Wild Wings (NASDAQ:BWLD) traded down 0.35% on Thursday, hitting $143.40. The stock had a trading volume of 360,102 shares. Buffalo Wild Wings has a 1-year low of $103.39 and a 1-year high of $167.64. The stock has a 50-day moving average of $154.5 and a 200-day moving average of $146.5. The company has a market cap of $2.713 billion and a price-to-earnings ratio of 30.11.
Buffalo Wild Wings (NASDAQ:BWLD) last released its earnings data on Tuesday, July 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.06. The company had revenue of $366.00 million for the quarter, compared to the consensus estimate of $358.85 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts predict that Buffalo Wild Wings will post $5.05 earnings per share for the current fiscal year.
Buffalo Wild Wings, Inc, is an 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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