Zacks Investment Research Downgrades Buffalo Wild Wings, Inc. (BWLD) to Sell
Buffalo Wild Wings, Inc. (NASDAQ:BWLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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.”
Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $165.00 target price (down previously from $180.00) on shares of Buffalo Wild Wings in a report on Monday, July 10th. UBS AG reissued a “buy” rating and set a $175.00 price target on shares of Buffalo Wild Wings in a research report on Monday, July 10th. Maxim Group lowered their price target on shares of Buffalo Wild Wings from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $135.00 price target on shares of Buffalo Wild Wings in a research report on Friday, September 15th. Finally, TheStreet cut shares of Buffalo Wild Wings from a “b-” rating to a “c” rating in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $138.71.
Buffalo Wild Wings (NASDAQ:BWLD) traded down 0.29% during trading on Tuesday, reaching $102.30. 517,012 shares of the company’s stock traded hands. Buffalo Wild Wings has a one year low of $95.00 and a one year high of $175.10. The company has a 50-day moving average price of $103.81 and a 200 day moving average price of $129.51. The firm has a market capitalization of $1.59 billion, a PE ratio of 25.91 and a beta of 0.83.
Buffalo Wild Wings (NASDAQ:BWLD) last released its earnings results on Wednesday, July 26th. The restaurant operator reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.35). Buffalo Wild Wings had a return on equity of 17.14% and a net margin of 3.39%. The business had revenue of $500.00 million for the quarter, compared to analysts’ expectations of $512.68 million. During the same period in the previous year, the company earned $1.27 EPS. Buffalo Wild Wings’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Buffalo Wild Wings will post $4.47 earnings per share for the current fiscal year.
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In other Buffalo Wild Wings news, Director International Master F. Marcato purchased 9,100 shares of Buffalo Wild Wings stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $109.71 per share, with a total value of $998,361.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.19% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in shares of Buffalo Wild Wings by 10.1% during the second quarter. Public Employees Retirement System of Ohio now owns 842 shares of the restaurant operator’s stock worth $107,000 after buying an additional 77 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of Buffalo Wild Wings during the first quarter worth approximately $130,000. Riverhead Capital Management LLC increased its stake in shares of Buffalo Wild Wings by 95.6% during the second quarter. Riverhead Capital Management LLC now owns 1,565 shares of the restaurant operator’s stock worth $198,000 after buying an additional 765 shares during the period. LS Investment Advisors LLC increased its stake in shares of Buffalo Wild Wings by 9.1% during the second quarter. LS Investment Advisors LLC now owns 1,577 shares of the restaurant operator’s stock worth $200,000 after buying an additional 131 shares during the period. Finally, Flinton Capital Management LLC increased its stake in shares of Buffalo Wild Wings by 73.5% during the second quarter. Flinton Capital Management LLC now owns 1,652 shares of the restaurant operator’s stock worth $209,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.
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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