Wingstop Inc. (NASDAQ:WING) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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. “
Several other research firms have also recently weighed in on WING. Longbow Research initiated coverage on shares of Wingstop in a report on Friday, October 13th. They issued a “neutral” rating on the stock. Cowen and Company reiterated an “outperform” rating and issued a $37.00 price target on shares of Wingstop in a report on Saturday, September 16th. BidaskClub upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Wedbush reiterated a “buy” rating and issued a $36.00 price target on shares of Wingstop in a report on Thursday, July 6th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $39.00 price target on shares of Wingstop in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wingstop presently has a consensus rating of “Buy” and an average price target of $34.89.
Wingstop (NASDAQ:WING) traded down 0.679% during midday trading on Wednesday, reaching $32.925. 58,813 shares of the company’s stock were exchanged. The stock has a market cap of $957.20 million, a PE ratio of 51.365 and a beta of 0.58. The firm has a 50 day moving average of $33.23 and a 200-day moving average of $31.30. Wingstop has a 12 month low of $24.74 and a 12 month high of $35.91.
Wingstop (NASDAQ:WING) last issued its earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The company had revenue of $24.70 million for the quarter, compared to the consensus estimate of $24.61 million. Wingstop had a net margin of 19.28% and a negative return on equity of 28.04%. During the same period in the previous year, the firm earned $0.15 earnings per share. On average, equities research analysts predict that Wingstop will post $0.72 earnings per share for the current year.
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In other news, Chairman Charles R. Morrison sold 25,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.71, for a total transaction of $867,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Lawrence Kruguer sold 10,526 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.67, for a total transaction of $354,410.42. Following the sale, the insider now owns 22,116 shares in the company, valued at approximately $744,645.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,083 shares of company stock worth $1,622,033. Company insiders own 1.76% of the company’s stock.
Several hedge funds have recently made changes to their positions in WING. Fortaleza Asset Management Inc. bought a new stake in shares of Wingstop during the 2nd quarter valued at $108,000. Riverhead Capital Management LLC boosted its holdings in shares of Wingstop by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 1,396 shares in the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Wingstop by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,818 shares of the restaurant operator’s stock valued at $118,000 after buying an additional 52 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Wingstop by 16.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,767 shares of the restaurant operator’s stock valued at $163,000 after buying an additional 804 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Wingstop by 79.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,720 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 2,530 shares in 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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