Wingstop Inc. (WING) Cut to “Hold” at Zacks Investment Research
Wingstop Inc. (NASDAQ:WING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “
A number of other research firms have also issued reports on WING. Robert W. Baird reaffirmed a “buy” rating and issued a $39.00 price target on shares of Wingstop in a research report on Friday. Jefferies Group LLC increased their price target on Wingstop from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Stifel Nicolaus raised 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 report on Friday, November 3rd. Longbow Research assumed coverage on Wingstop in a research report on Friday, October 13th. They issued a “neutral” rating on the stock. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Wingstop in a research report on Saturday, September 16th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.10.
Wingstop (NASDAQ:WING) traded up $0.85 on Tuesday, reaching $38.95. The company had a trading volume of 580,000 shares, compared to its average volume of 498,726. Wingstop has a 1 year low of $24.74 and a 1 year high of $39.20. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of -2.37. The firm has a market cap of $1,108.52, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 2.69 and a beta of 0.58.
Wingstop (NASDAQ:WING) last posted its earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Wingstop had a negative return on equity of 32.39% and a net margin of 20.70%. The firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $25.13 million. During the same quarter in the prior year, the company earned $0.13 EPS. Wingstop’s revenue was up 19.4% on a year-over-year basis. research analysts anticipate that Wingstop will post 0.73 earnings per share for the current year.
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In other news, insider Stacy Peterson sold 11,557 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $34.60, for a total value of $399,872.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Flynn Dekker sold 16,350 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $35.77, for a total value of $584,839.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,433 shares of company stock worth $2,206,872. Company insiders own 1.76% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in Wingstop during the 3rd quarter worth approximately $1,453,000. Dimensional Fund Advisors LP grew its stake in Wingstop by 39.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 547,583 shares of the restaurant operator’s stock worth $18,207,000 after buying an additional 153,675 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Wingstop by 12.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 140,064 shares of the restaurant operator’s stock worth $4,658,000 after buying an additional 15,489 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in Wingstop by 59.0% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 32,600 shares of the restaurant operator’s stock worth $1,084,000 after buying an additional 12,100 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in Wingstop by 6.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 170,216 shares of the restaurant operator’s stock worth $5,720,000 after buying an additional 10,395 shares during the last quarter.
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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