Buffalo Wild Wings Downgraded at Tesley, Ends Tuesday Wing Special
Buffalo Wild Wings now has a $135 price target.
Buffalo Wild Wings Inc. (BWLD) shares were down 10.2% to $110.12 following its latest earnings miss after the closing bell Wednesday. Analysts at Telsey Advisory downgraded the stock to "market perform" from "outperform" while also lowering its price target to $135 from $145 per share as a result.
Buffalo Wild Wings reported a 63% drop in profit to $8.8 million, or 55 cents a share, in the second quarter, well below the $1.06 per share analysts were expecting for the period.
As a result, the company announced that it would no-longer have its long-standing discount wing promotion on Tuesdays at its 626 company-owned restaurants. Executives said they also expect its 624 franchisees to follow suit.
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