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October 24, 2012
10:15 EDTBWLDBuffalo Wild Wings falls post earnings, but analysts remain upbeat
Casual dining company Buffalo Wild Wings (BWLD) is sinking after the company reported weaker than expected third quarter results. The company said that high sales costs and increases in pre-opening expenses weighed on its bottom line. Analysts at Deutsche Bank and Sterne Agee, however, remain upbeat on the company's outlook despite the miss. In a note to investors earlier today, Deutsche Bank analyst Jason West predicted that Buffalo Wild Wings' margins would increase as its menu prices rise and catch up with wing costs. Meanwhile, the company's revenue should climb by mid-teens percentage levels, causing its earnings growth to be among the highest in the restaurant sector, West believes. The analyst lowered his price target on the stock to $85 from $92, but maintained a Buy rating on the shares. Sterne Agee analyst Lynn Collier, meanwhile, wrote in a note to investors that she expects the company's margins in the second half of 2013 to be significantly boosted by the company's decision to price wings by the pound, instead of by the piece. Moreover, Collier believes that the company's weaker than expected results were primarily caused by reduced advertising. This issue should be resolved in the short-term, wrote the analyst, who maintained a Buy rating on the stock. In mid-morning trading, Buffalo Wild Wings tumbled $9.44, or 11.31%, to $74.02.
News For BWLD From The Last 14 Days
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November 25, 2015
06:34 EDTBWLDDiversified Restaurant initiated with a Neutral at Citi
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November 23, 2015
08:30 EDTBWLDBuffalo Wild Wings authorizes $200M share buyback
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