Roark Bid for Buffalo Wild Wings Too Low?

Chicken wings

Private-equity firm Roark Capital has made Buffalo Wild Wings ( BWLD ) a buyout offer of more than $2.3 billion, or more than $150 per share, according to the Wall Street Journal, citing sources familiar with the matter.

News headlines about Buffalo Wild Wings (NASDAQ:BWLD) have trended somewhat positive this week, Accern Sentiment reports. Canaccord Genuity cut their price objective on Buffalo Wild Wings from $160.00 to $135.00 and set a hold rating on the stock in a report on Friday, July 7th.

"We believe a premium is now warranted given the potential for upside to expectations if wing cost declines are sustained, but remains a discount to M&A multiples given uncertainty regarding any potential deal".

The Roark proposal was made on October 13 at a 48 percent premium to Buffalo Wild Wings's share price at the time, according to the person familiar with the situation.

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In the market the company is trading up since yesterday's close of 117.25. During the same period last year, the firm earned $1.23 earnings per share. equities research analysts expect that Buffalo Wild Wings will post 4.98 earnings per share for the current fiscal year.

WARNING: This piece was originally reported by Week Herald and is owned by of Week Herald. If you are reading this story on another website, it was stolen and republished in violation of USA and global trademark and copyright laws. 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. Prudential Financial Inc. increased its holdings in Buffalo Wild Wings by 7.6% in the 1st quarter. In the last earnings report the EPS was $3.84 with 15.51M shares presently outstanding. Pacad Investment Ltd. now owns 9,400 shares of the restaurant operator's stock valued at $1,191,000 after purchasing an additional 1,800 shares during the last quarter. Amalgamated Bank now controls 2,131 shares worth $225,000. Wellington Management Group LLP raised its stake in Buffalo Wild Wings by 29.7% during the first quarter. Finally, Teachers Advisors LLC grew its holdings in Buffalo Wild Wings by 3.6% during the 1st quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

The company's Chief Executive Sally Smith said she would retire by the end of the year after Marcato won a bitter proxy battle in June that put three of its directors on the chicken-wing restaurant's board. 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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