Buffalo Wild Wings (NASDAQ:BWLD) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Buffalo Wild Wings (NASDAQ:BWLD) from a hold rating to a buy rating in a report published on Monday, February 5th. Zacks Investment Research currently has $176.00 price target on the restaurant operator’s stock.

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.”

A number of other equities research analysts have also recently weighed in on BWLD. Barclays reduced their price target on shares of Buffalo Wild Wings from $144.00 to $128.00 and set an overweight rating for the company in a research report on Wednesday, October 18th. BMO Capital Markets set a $157.00 price objective on shares of Buffalo Wild Wings and gave the company a hold rating in a research note on Wednesday, November 29th. Morgan Stanley lifted their price objective on shares of Buffalo Wild Wings from $112.00 to $124.00 and gave the company an equal weight rating in a research note on Thursday, October 26th. Stifel Nicolaus set a $115.00 price target on shares of Buffalo Wild Wings and gave the stock a hold rating in a research note on Thursday, October 26th. Finally, Canaccord Genuity reiterated a hold rating and set a $157.00 price target on shares of Buffalo Wild Wings in a research note on Tuesday, November 28th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $146.09.

Buffalo Wild Wings (BWLD) remained flat at $$156.95 during trading on Monday. The company’s stock had a trading volume of 1,793,600 shares, compared to its average volume of 461,202. The firm has a market capitalization of $2,430.00, a PE ratio of 40.87, a PEG ratio of 1.72 and a beta of 0.88. Buffalo Wild Wings has a 12-month low of $95.00 and a 12-month high of $165.70. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.61 and a current ratio of 0.70.

In other news, Director International Master F. Marcato acquired 950,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average cost of $156.60 per share, for a total transaction of $148,770,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marcato Capital Management Lp sold 200,094 shares of Buffalo Wild Wings stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $155.54, for a total transaction of $31,122,620.76. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of Buffalo Wild Wings in the 4th quarter worth approximately $109,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Buffalo Wild Wings by 10.1% in 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. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Buffalo Wild Wings in the fourth quarter worth about $190,000. Two Sigma Investments LP boosted its holdings in shares of Buffalo Wild Wings by 127.7% in the fourth quarter. Two Sigma Investments LP now owns 1,300 shares of the restaurant operator’s stock worth $203,000 after buying an additional 6,000 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of Buffalo Wild Wings in the third quarter worth about $148,000. 92.32% of the stock is currently owned by institutional investors.

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About Buffalo Wild Wings

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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