Wingstop (WING) Rating Reiterated by SunTrust Banks
Wingstop (NASDAQ:WING)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks in a report issued on Wednesday. They currently have a $50.00 price target on the restaurant operator’s stock. SunTrust Banks’ price objective indicates a potential upside of 27.36% from the company’s previous close.
A number of other equities analysts also recently weighed in on WING. Robert W. Baird reissued a “buy” rating and issued a $49.00 price target on shares of Wingstop in a report on Wednesday. Jefferies Group downgraded shares of Wingstop from a “hold” rating to an “underperform” rating and upped their price objective for the company from $29.00 to $34.00 in a report on Saturday. Stifel Nicolaus assumed coverage on shares of Wingstop in a report on Monday, October 2nd. They set a “hold” rating and a $35.00 price objective on the stock. Longbow Research assumed coverage on shares of Wingstop in a report on Friday, October 13th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.42.
Wingstop (WING) traded up $0.28 during trading hours on Wednesday, reaching $39.26. 487,000 shares of the company traded hands, compared to its average volume of 388,250. The firm has a market cap of $1,134.12, a P/E ratio of 54.53, a PEG ratio of 2.52 and a beta of 0.69. Wingstop has a twelve month low of $24.74 and a twelve month high of $43.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of -2.37.
In other news, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $41.03, for a total transaction of $205,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Flynn Dekker sold 16,350 shares of the stock in a transaction that occurred on 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. Corporate insiders own 1.76% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its holdings in Wingstop by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock worth $108,000 after buying an additional 1,396 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in Wingstop by 1.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,818 shares of the restaurant operator’s stock worth $118,000 after buying an additional 52 shares in the last quarter. Turner Investments LLC bought a new stake in Wingstop in the 3rd quarter worth about $150,000. Piedmont Investment Advisors LLC bought a new stake in Wingstop in the 3rd quarter worth about $210,000. Finally, Bayesian Capital Management LP bought a new stake in Wingstop in the 2nd quarter worth about $241,000.
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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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