Buffalo Wild Wings Gets $2.3 Billion-Plus Buyout Bid From Roark Capital

Chicken wings

Buffalo Wild Wings explodes 28% on report that it has received a takeover offer

On October 27 Mizuho kept the company rating at "Hold" targeting a price of $120.00. It also raised earnings forecasts for the year, sending shares up 20 percent on October 26, the day after its earnings were published. OppenheimerFunds Inc. now owns 3,595 shares of the restaurant operator's stock worth $549,000 after acquiring an additional 1,082 shares in the last quarter.

Shares of Buffalo Wild Wings spiked almost 30% after the close on the stock market today, after ending Monday's session down 1.4% at 117.25. Equity analyst Maxim Group raised the price target of the stock on October 26 changing the forecast from $145.00 to $160.00 and issued a "Buy" rating. The original version of this piece can be read at https://www.dispatchtribunal.com/2017/11/14/barclays-plc-boosts-buffalo-wild-wings-inc-bwld-price-target-to-133-00.html.

Buffalo Wild Wings (NASDAQ:BWLD) last announced its quarterly earnings data on Wednesday, October 25th.

In going after Buffalo Wild Wings, the investment firm is eyeing a company on the rebound.

Barclays is reportedly working as Roark's financial adviser, while Goldman Sachs is working with Buffalo Wild Wings. Buffalo Wild Wings now has a consensus rating of Hold and a consensus price target of $131.57.

Buffalo Wild Wings posted higher-than-expected earnings for the quarter ended September 24, though same-store sales decreased 2.3 percent at company-owned restaurants and 3.2 percent at franchise locations. The business's revenue for the quarter was up.5% on a year-over-year basis. The value of the investment in BWLD went from $311,000 to $225,000 a change of 27.7% since the last quarter.

TRADEMARK VIOLATION NOTICE: This piece of content was published by StockNewsTimes and is owned by of StockNewsTimes. On October 26, 2017 BMO Capital Markets updated guidance on BWLD and giving a rating of "Hold" and projecting a price target of $120.00. The restaurant operator reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.57. If you are reading this story on another website, it was stolen and republished in violation of United States and worldwide trademark and copyright laws. Finally, Teachers Advisors LLC raised its stake in Buffalo Wild Wings by 3.6% during the first quarter. Its investment was valued at $51,367,000 a decrease of $6,744,000 as of quarter end.

Activist hedge fund Marcato Capital Management has been pressuring Buffalo Wild Wings to change its leadership and improve its restaurant operations. 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.

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