Zacks Investment Research Upgrades Wingstop Inc. (NASDAQ:WING) to “Hold”
Wingstop Inc. (NASDAQ:WING) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Wingstop Inc. franchises and operates restaurants. The Company’s operating segment consists of Franchise segment and Company segment. It offers cooked-to-order, hand-sauced and tossed chicken wings. Wingstop Inc. is headquartered in Dallas, Texas. “
Other analysts have also issued research reports about the company. Cowen and Company upped their target price on Wingstop from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Jefferies Group LLC reiterated a “hold” rating and set a $28.00 target price on shares of Wingstop in a report on Thursday, May 18th. Goldman Sachs Group, Inc. (The) raised Wingstop from a “buy” rating to a “conviction-buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, May 23rd. Barclays PLC boosted their price target on Wingstop from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, May 15th. Finally, Stephens boosted their price target on Wingstop from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Wingstop has a consensus rating of “Buy” and a consensus target price of $34.40.
Shares of Wingstop (NASDAQ:WING) traded up 0.48% on Tuesday, hitting $33.29. The stock had a trading volume of 609,288 shares. Wingstop has a one year low of $24.74 and a one year high of $34.16. The stock has a market capitalization of $964.64 million, a PE ratio of 55.39 and a beta of 0.60. The firm’s 50 day moving average is $30.67 and its 200-day moving average is $28.98.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. Wingstop had a negative return on equity of 28.04% and a net margin of 19.28%. The business had revenue of $24.70 million for the quarter, compared to analyst estimates of $24.61 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Equities research analysts expect that Wingstop will post $0.72 earnings per share for the current fiscal year.
In other news, insider Flynn Dekker sold 4,102 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $30.59, for a total value of $125,480.18. Following the transaction, the insider now owns 44,014 shares of the company’s stock, valued at $1,346,388.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Mravle sold 34,605 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $30.82, for a total value of $1,066,526.10. Following the completion of the transaction, the chief financial officer now directly owns 75,400 shares in the company, valued at approximately $2,323,828. The disclosure for this sale can be found here. Insiders sold 80,510 shares of company stock worth $2,448,937 in the last ninety days. 1.76% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. purchased a new position in Wingstop during the second quarter valued at approximately $108,000. LS Investment Advisors LLC increased its position in Wingstop by 291.0% in the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator’s stock valued at $122,000 after buying an additional 3,216 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Wingstop by 16.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,767 shares of the restaurant operator’s stock valued at $163,000 after buying an additional 804 shares during the last quarter. State of Alaska Department of Revenue increased its position in Wingstop by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 5,720 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 2,530 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in Wingstop by 7.4% in the first quarter. Mason Street Advisors LLC now owns 6,750 shares of the restaurant operator’s stock valued at $191,000 after buying an additional 468 shares during the last quarter.
Wingstop Company Profile
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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