Wingstop’s (WING) Outperform Rating Reiterated at Cowen

Wingstop (NASDAQ:WING)‘s stock had its “outperform” rating restated by analysts at Cowen in a research report issued on Tuesday, The Fly reports. They currently have a $51.00 price objective on the restaurant operator’s stock, up from their prior price objective of $46.00. Cowen’s target price suggests a potential upside of 5.85% from the company’s current price.

Several other research firms have also commented on WING. Longbow Research started coverage on Wingstop in a research note on Friday, October 13th. They issued a “neutral” rating for the company. SunTrust Banks restated a “buy” rating and issued a $50.00 price objective on shares of Wingstop in a research note on Wednesday, January 3rd. Zacks Investment Research lowered Wingstop from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BidaskClub upgraded Wingstop from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Robert W. Baird restated a “buy” rating and issued a $44.00 price objective (up from $30.00) on shares of Wingstop in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Wingstop currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Wingstop (NASDAQ:WING) traded up $0.45 during trading hours on Tuesday, hitting $48.18. The stock had a trading volume of 512,273 shares, compared to its average volume of 543,051. The company has a debt-to-equity ratio of -2.37, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $1,393.94, a price-to-earnings ratio of 66.92, a price-to-earnings-growth ratio of 3.04 and a beta of 1.01. Wingstop has a 52-week low of $24.74 and a 52-week high of $49.69.

In other Wingstop news, Chairman Charles R. Morrison sold 1,476 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $48.13, for a total value of $71,039.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $41.03, for a total value of $205,150.00. 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 modified their holdings of WING. CI Investments Inc. purchased a new stake in Wingstop in the 3rd quarter worth $11,977,000. Dimensional Fund Advisors LP grew its position in shares of Wingstop by 334.0% during the second quarter. Dimensional Fund Advisors LP now owns 393,908 shares of the restaurant operator’s stock valued at $12,172,000 after purchasing an additional 303,156 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Wingstop during the second quarter valued at about $286,000. State Street Corp grew its position in shares of Wingstop by 47.7% during the second quarter. State Street Corp now owns 635,514 shares of the restaurant operator’s stock valued at $19,639,000 after purchasing an additional 205,100 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Wingstop during the fourth quarter valued at about $5,371,000.

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About Wingstop

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.

The Fly

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