Still, she noted that “our solid sales performance in the second quarter was offset by a challenging cost environment”. With the volume soaring to 372,929 shares, the last trade was called at $169.57. Labor costs in the quarter increased 20 percent to $129.3 million from $107.4 million.
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A big red flag that had investors wary was the fact that earnings decreased a substantial 9.3% to $21.5 million, down from $23.7 million. Earnings per diluted share were $1.12, as compared to second quarter 2014 earnings per diluted share of $1.25.
Labor costs also increased, the company said, due largely to the addition of “Guest Experience Captains” at company-owned restaurants.
Winick Realty Group NJ founding partner and senior vice president Tyler Bennett represented AntSul Group LLC (dba Buffalo Wild Wings) in the off-market transaction, which marks Buffalo Wild Wings’ sixth location in New York and New Jersey.
The 1,100-unit chain recently finalized a deal to buy 41 locations in Texas, New Mexico and Hawaii from a franchisee.
“We expect keg prices to be going up, and they have, so we will take modest increases on beer and… some increases on alcohol”, said Smith. As of December 30, 2013, it owned or franchised 992 Buffalo Wild Wings restaurants in North America, of which 434 were Company-owned and 558 were franchised. Finally, Cowen and Company reissued an “outperform” rating and set a $205.00 price target (down from $208.00) on shares of Buffalo Wild Wings in a research report on Thursday, July 2nd. The high end estimate for this time frame is $6.59 with the low being $5.67. The 50-day moving average is $158.53 and the 200 day moving average is recorded at $173.82.
A number of research analysts have commented on BWLD shares. The stock closed near the middle of a 2 1/2 week trading range. Separately, on July 1, Goldman Sachs’ Karen Holthouse initiated coverage with a Buy rating on the stock and has a price target of $195. This is indicating the analyst believes there is a potential upside of 7.3% from the opening price of 191 Dollars. “They were lapping around an 8% July comparison with benefit of men’s World Cup, and they just generated a 4.8% on company comps”.
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The average recommendation is the arithmetical average of the individual analyst ratings contributed by sell-side research to produce a Consensus Analyst Rating for each stock. In comparing the stock’s current level to its extended history, the stock is trading -4.06% away from its 52-week high of 62.50 and +271.73% away from the stock’s low point over the past 52 weeks, which was 16.13. The Company operates Buffalo Wild Wings and Emerging brands (NASDAQ:BWLD) restaurants, as well as selling Buffalo Wild Wings and Rusty Taco restaurant franchises. The Company offersoffers dining and bar areas that provide distinct seating choices for sports fans and families.
