Shares of Buffalo Wild Wings, Inc. (NASDAQ:BWLD) traded up 19.6% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $123.75 and last traded at $120.95. 4,064,174 shares changed hands during mid-day trading, an increase of 689% from the average session volume of 514,797 shares. The stock had previously closed at $101.15.
The restaurant operator reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.57. The company had revenue of $496.70 million during the quarter, compared to the consensus estimate of $500.97 million. Buffalo Wild Wings had a net margin of 3.17% and a return on equity of 19.92%. Buffalo Wild Wings’s revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share.
Several equities research analysts have weighed in on the stock. UBS Group AG set a $140.00 target price on shares of Buffalo Wild Wings and gave the company a “buy” rating in a research note on Thursday. Barclays PLC raised their target price on shares of Buffalo Wild Wings from $128.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity raised their target price on shares of Buffalo Wild Wings from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday. BMO Capital Markets set a $120.00 target price on shares of Buffalo Wild Wings and gave the company a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus set a $115.00 target price on shares of Buffalo Wild Wings and gave the company a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $133.00.
In other news, Director International Master F. Marcato purchased 9,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of $109.71 per share, for a total transaction of $998,361.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.19% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in BWLD. BlackRock Inc. grew its position in shares of Buffalo Wild Wings by 21,879.4% in the first quarter. BlackRock Inc. now owns 1,722,083 shares of the restaurant operator’s stock valued at $263,048,000 after purchasing an additional 1,714,248 shares during the period. Vanguard Group Inc. grew its position in shares of Buffalo Wild Wings by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,409,524 shares of the restaurant operator’s stock valued at $215,305,000 after purchasing an additional 6,256 shares during the period. Alliancebernstein L.P. grew its position in shares of Buffalo Wild Wings by 6.6% in the second quarter. Alliancebernstein L.P. now owns 655,269 shares of the restaurant operator’s stock valued at $83,023,000 after purchasing an additional 40,406 shares during the period. Koch Industries Inc. acquired a new stake in shares of Buffalo Wild Wings in the second quarter valued at about $618,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Buffalo Wild Wings by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,640 shares of the restaurant operator’s stock valued at $58,111,000 after purchasing an additional 13,689 shares during the period. Institutional investors own 88.13% of the company’s stock.
The company has a market cap of $1.87 billion, a price-to-earnings ratio of 30.64 and a beta of 0.83. The stock’s 50 day moving average is $104.29 and its 200 day moving average is $126.03.
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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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