Wingstop Inc. (WING) Price Target Increased to $29.00 by Analysts at Jefferies Group LLC
Wingstop Inc. (NASDAQ:WING) had its price objective hoisted by analysts at Jefferies Group LLC from $28.00 to $29.00 in a note issued to investors on Friday. The firm presently has a “hold” rating on the restaurant operator’s stock. Jefferies Group LLC’s target price would suggest a potential downside of 20.35% from the company’s previous close.
Several other equities analysts have also commented on the stock. Stifel Nicolaus upgraded shares of Wingstop from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $40.00 in a research note on Friday. Zacks Investment Research lowered shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Longbow Research began coverage on shares of Wingstop in a research note on Friday, October 13th. They issued a “neutral” rating on the stock. Robert W. Baird reissued a “buy” rating and issued a $39.00 price objective on shares of Wingstop in a report on Monday, October 9th. Finally, Cowen and Company reissued an “outperform” rating and issued a $37.00 price objective on shares of Wingstop in a report on Saturday, September 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $35.56.
Shares of Wingstop (WING) traded up $3.44 during trading on Friday, reaching $36.41. 3,937,763 shares of the company’s stock traded hands, compared to its average volume of 422,511. The company has a market capitalization of $1,058.51, a PE ratio of 50.57, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The company has a debt-to-equity ratio of -2.25, a current ratio of 0.90 and a quick ratio of 0.90.
Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $26.03 million for the quarter, compared to analyst estimates of $25.13 million. Wingstop had a net margin of 20.70% and a negative return on equity of 31.19%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. equities analysts forecast that Wingstop will post 0.73 EPS for the current year.
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In related news, Chairman Charles R. Morrison sold 25,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $34.71, for a total transaction of $867,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lawrence Kruguer sold 10,526 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $33.67, for a total value of $354,410.42. Following the sale, the insider now directly owns 22,116 shares of the company’s stock, valued at $744,645.72. The disclosure for this sale can be found here. Insiders sold 47,083 shares of company stock valued at $1,622,033 over the last three months. Corporate insiders own 1.76% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of WING. Fortaleza Asset Management Inc. acquired a new stake in shares of Wingstop during the second quarter worth $108,000. Riverhead Capital Management LLC lifted its holdings in shares of Wingstop by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 1,396 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of Wingstop by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 3,818 shares of the restaurant operator’s stock worth $118,000 after purchasing an additional 52 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Wingstop by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 5,720 shares of the restaurant operator’s stock worth $176,000 after purchasing an additional 2,530 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Wingstop during the first quarter worth $202,000.
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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