Buffalo Wild Wings, Inc. (NASDAQ:BWLD) shares hit a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $110.55 and last traded at $111.15, with a volume of 1,597,387 shares changing hands. The stock had previously closed at $122.65.

The restaurant operator reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by $0.35. Buffalo Wild Wings had a return on equity of 16.55% and a net margin of 4.14%. The business had revenue of $500 million during the quarter, compared to analyst estimates of $512.68 million. During the same period in the previous year, the company earned $1.27 EPS. Buffalo Wild Wings’s revenue was up 2.0% on a year-over-year basis.

BWLD has been the subject of several analyst reports. Maxim Group restated a “hold” rating and issued a $175.00 target price on shares of Buffalo Wild Wings in a research note on Tuesday, May 9th. Barclays PLC decreased their target price on shares of Buffalo Wild Wings to $144.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup Inc. restated a “neutral” rating and issued a $161.00 target price (down from $162.00) on shares of Buffalo Wild Wings in a research note on Monday, May 15th. UBS AG restated a “buy” rating and issued a $175.00 target price (down from $185.00) on shares of Buffalo Wild Wings in a research note on Monday, June 12th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $160.00 target price (up from $145.00) on shares of Buffalo Wild Wings in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $145.73.

Hedge funds have recently added to or reduced their stakes in the company. Tyers Asset Management LLC boosted its stake in Buffalo Wild Wings by 6.3% in the first quarter. Tyers Asset Management LLC now owns 748 shares of the restaurant operator’s stock worth $114,000 after buying an additional 44 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Buffalo Wild Wings by 10.9% in the first quarter. Public Employees Retirement System of Ohio now owns 765 shares of the restaurant operator’s stock worth $117,000 after buying an additional 75 shares during the period. FNY Managed Accounts LLC purchased a new stake in Buffalo Wild Wings during the first quarter worth $130,000. Flinton Capital Management LLC boosted its stake in Buffalo Wild Wings by 6.3% in the first quarter. Flinton Capital Management LLC now owns 952 shares of the restaurant operator’s stock worth $146,000 after buying an additional 56 shares during the period. Finally, Neuburgh Advisers LLC boosted its stake in Buffalo Wild Wings by 6.3% in the first quarter. Neuburgh Advisers LLC now owns 1,156 shares of the restaurant operator’s stock worth $177,000 after buying an additional 68 shares during the period. 90.69% of the stock is currently owned by institutional investors and hedge funds.

The firm has a 50 day moving average price of $129.64 and a 200-day moving average price of $147.49. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 23.837 and a beta of 0.88.

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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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