Buffalo Wild Wings Soars On Analyst Confidence
Analysts were generally optimistic about Buffalo Wild Wings' (NASDAQ: BWLD) chances heading into 2016 after the company reported slacking fourth quarter sales. Bearish analysts saw weakness in the restaurant industry as reason to be hesitant, while others see the wing slinger in a good position to capitalize on the new year.
On Thursday, many analysts adjusted their earnings expectations, looking for around $6.00 a share for 2016, dropping previous estimates that saw earnings closer to $7.00.
Shares closed at $154.57, up 7.6 percent for the day.
A Closer Look
Longbow's Alton Stump recommend investors "pull the plug" on B-Dubs after its weak quarter, downgrading the stock to Neutral and dropping his FY 2016 EPS estimate from $6.59 to $5.72.
BMO's Andrew Strelzik was positive on the stock, offering an Outperform rating and $190 price target. Strelzik lowered his EPS estimate from $6.71 to $6.26.
Oppenheimer's Bryan Bittner was "wild" on the stock, claiming recent sales disappointments could potentially be transitory. "We'd be aggressive buyers," he wrote, setting a $200 price target and dropping EPS from $6.67 to $6.23.
Deutsche Bank was slightly pessimistic, with analyst Brett Levy setting a Hold rating, lowering the price target from $175 to $165 and trimming EPS estimates from $6.25 to $6.00. He wrote that the company was "well-positioned" to compete in the restaurant space.
Cowen analyst Andrew Charles thinks the stock will Perform with the market, lowered his EPS from $6.45 to $6.20 and expects revenues of $2.12 billion. Charles sees "industry softness" as a potential reason for sluggish fourth-quarter sales.
Stephens analyst William Slabaugh maintained an Overweight rating and price target of $190, while lowering the EPS from $6.50 to $6.10. The firm sees "compelling value" in the company.
Raymond James analyst Brian Vaccaro liked B-Dubs' chances, upgrading the stock to Outperform with a $165 price target. He dropped EPS from $6.75 to $6.20.
Image credit: Wesley Fryer, Flickr
Latest Ratings for BWLD
|Aug 2016||Canaccord Genuity||Initiates Coverage on||Hold|
|Aug 2016||Longbow Research||Downgrades||Neutral||Underperform|
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