Wingstop Inc. (WING) Receives Average Rating of “Buy” from Analysts
Shares of Wingstop Inc. (NASDAQ:WING) have been given an average rating of “Buy” by the eleven analysts that are presently covering the firm. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.80.
A number of equities analysts have recently commented on WING shares. Wedbush reissued an “outperform” rating and set a $36.00 price target (up previously from $35.00) on shares of Wingstop in a report on Monday, August 29th. Robert W. Baird boosted their price target on Wingstop from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, September 7th. KeyCorp started coverage on Wingstop in a report on Wednesday, September 7th. They set an “overweight” rating and a $36.00 price target for the company. Zacks Investment Research cut Wingstop from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Wells Fargo & Co. reissued a “market perform” rating and set a $26.00 price target on shares of Wingstop in a report on Saturday, July 2nd.
Wingstop (NASDAQ:WING) traded up 1.637% during trading on Monday, reaching $28.865. The company’s stock had a trading volume of 107,963 shares. The firm has a 50 day moving average price of $29.43 and a 200-day moving average price of $27.44. Wingstop has a 52-week low of $20.31 and a 52-week high of $33.10. The stock has a market cap of $829.23 million, a price-to-earnings ratio of 54.981 and a beta of 0.63.
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Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Wingstop had a negative return on equity of 218.88% and a net margin of 18.15%. The company earned $22.70 million during the quarter, compared to analysts’ expectations of $22.05 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Wingstop’s revenue was up 18.2% on a year-over-year basis. On average, analysts expect that Wingstop will post $0.56 earnings per share for the current year.
In other Wingstop news, insider David A. Vernon sold 6,540 shares of the company’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $28.70, for a total value of $187,698.00. Following the sale, the insider now owns 80,349 shares in the company, valued at approximately $2,306,016.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Neal K. Aronson sold 6,000,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $28.50, for a total value of $171,000,000.00. The disclosure for this sale can be found here. 45.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in shares of Wingstop by 132.5% in the second quarter. American International Group Inc. now owns 9,060 shares of the company’s stock worth $247,000 after buying an additional 5,163 shares in the last quarter. Cadence Capital Management LLC acquired a new position in shares of Wingstop during the second quarter worth about $255,000. Parametric Portfolio Associates LLC acquired a new position in shares of Wingstop during the second quarter worth about $298,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Wingstop during the second quarter worth about $325,000. Finally, Rhumbline Advisers acquired a new position in shares of Wingstop during the second quarter worth about $335,000. Hedge funds and other institutional investors own 58.93% of the company’s stock.
Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.
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