Buffalo Wild Wings (NASDAQ:BWLD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $176.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.14% from the company’s previous close.
According to Zacks, “Various innovative initiatives undertaken by Buffalo Wild Wings like menu innovation, promotional and value offerings, roll-out of loyalty program and delivery, enhancement of digital capabilities along with international expansion are positives. The move to try small, fast food style stores given consumers inclination toward to-go and in-home dining experiences also bodes well. Notably, the company's earnings and revenues have been mostly missing the Zacks Consensus Estimate in the trailing 11 quarters. Moreover, the company’s comps have been under pressure due to the choppy restaurant sales environment. The menu price increases made by the company might affect traffic trends in the near term, thereby further weighing on traffic. Buffalo Wild Wings’ shares underperformed the industry in the past year. Earnings estimates for 2017 have gone up in the past 60 days.”
Other equities research analysts have also issued research reports about the company. UBS Group set a $140.00 price target on Buffalo Wild Wings and gave the stock a “buy” rating in a research note on Thursday, October 26th. Maxim Group boosted their price target on Buffalo Wild Wings from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Telsey Advisory Group boosted their price target on Buffalo Wild Wings from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Robert W. Baird set a $157.00 price target on Buffalo Wild Wings and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Finally, Stifel Nicolaus set a $157.00 price target on Buffalo Wild Wings and gave the stock a “hold” rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $146.09.
In other Buffalo Wild Wings news, Director International Master F. Marcato bought 950,000 shares of Buffalo Wild Wings stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average cost of $156.60 per share, with a total value of $148,770,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marcato Capital Management Lp sold 200,094 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $155.54, for a total value of $31,122,620.76. The disclosure for this sale can be found here. Insiders own 1.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL acquired a new position in shares of Buffalo Wild Wings during the 4th quarter worth approximately $3,691,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Buffalo Wild Wings during the 4th quarter worth approximately $12,472,000. Gabelli Funds LLC acquired a new position in shares of Buffalo Wild Wings during the 4th quarter worth approximately $14,667,000. Aperio Group LLC raised its stake in shares of Buffalo Wild Wings by 22.1% during the 4th quarter. Aperio Group LLC now owns 5,430 shares of the restaurant operator’s stock worth $849,000 after buying an additional 983 shares during the period. Finally, Chicago Capital Management LLC acquired a new position in shares of Buffalo Wild Wings during the 4th quarter worth approximately $24,687,000. 92.32% of the stock is owned by institutional investors and hedge funds.
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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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