Wingstop (NASDAQ:WING) Downgraded to “Sell” Rating by Wall Street Zen

Wingstop (NASDAQ:WING) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other brokerages also recently issued reports on WING. Piper Sandler raised Wingstop from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $283.00 to $190.00 in a research report on Thursday, April 2nd. Bank of America decreased their target price on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. BNP Paribas Exane started coverage on shares of Wingstop in a research note on Monday, March 30th. They set an “outperform” rating and a $275.00 target price for the company. UBS Group dropped their price target on shares of Wingstop from $210.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Finally, Stephens reiterated an “overweight” rating and set a $225.00 price target on shares of Wingstop in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $260.89.

Wingstop Stock Performance

WING opened at $177.99 on Monday. The stock has a market capitalization of $4.85 billion, a PE ratio of 44.28, a P/E/G ratio of 2.14 and a beta of 1.79. Wingstop has a one year low of $116.35 and a one year high of $381.45. The business’s 50 day moving average price is $152.00 and its 200 day moving average price is $203.12.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The company had revenue of $183.72 million during the quarter, compared to analysts’ expectations of $187.82 million. During the same quarter last year, the firm earned $0.99 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Wingstop will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of Wingstop

Institutional investors have recently modified their holdings of the stock. Lone Pine Capital LLC purchased a new stake in shares of Wingstop during the 3rd quarter worth approximately $375,317,000. Steadfast Capital Management LP grew its position in shares of Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after buying an additional 710,621 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Wingstop by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock worth $335,292,000 after acquiring an additional 456,861 shares in the last quarter. Capital World Investors raised its stake in Wingstop by 160.6% during the 3rd quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock worth $186,469,000 after acquiring an additional 456,637 shares in the last quarter. Finally, Atreides Management LP purchased a new stake in Wingstop in the fourth quarter valued at $93,012,000.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.