Zacks Investment Research Downgrades Wingstop Inc. (WING) to Hold

Wingstop Inc. (NASDAQ:WING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 also recently commented on WING. Robert W. Baird reiterated a “buy” rating and issued a $39.00 price target on shares of Wingstop in a research note on Friday, November 10th. Jefferies Group LLC lifted their price target on Wingstop from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Cowen and Company reiterated a “buy” rating on shares of Wingstop in a research note on Thursday, August 24th. BidaskClub upgraded Wingstop from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus initiated coverage on Wingstop in a research note on Monday, October 2nd. They issued a “hold” rating and a $35.00 target price for the company. 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 company’s stock. Wingstop has an average rating of “Buy” and an average price target of $36.10.

Wingstop (NASDAQ WING) opened at $39.49 on Tuesday. The company has a market capitalization of $1,154.78, a PE ratio of 55.13, a P/E/G ratio of 2.80 and a beta of 0.58. Wingstop has a 52 week low of $24.74 and a 52 week high of $40.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of -2.37.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $25.13 million. Wingstop had a negative return on equity of 32.39% and a net margin of 20.70%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share. analysts anticipate that Wingstop will post 0.73 EPS for the current fiscal year.

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In related news, Chairman Charles R. Morrison sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was 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 available at this hyperlink. Also, insider Lawrence Kruguer sold 10,526 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $33.67, for a total value of $354,410.42. Following the completion of the transaction, the insider now directly 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 three months, insiders have sold 63,433 shares of company stock worth $2,206,872. 1.76% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of WING. Fortaleza Asset Management Inc. bought a new position in shares of Wingstop in the second quarter valued at $108,000. Riverhead Capital Management LLC increased its holdings in shares of Wingstop by 66.5% in the second 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. increased its holdings in shares of Wingstop by 1.4% in the second 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. Turner Investments LLC bought a new position in shares of Wingstop in the third quarter valued at $150,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Wingstop by 79.3% in the second 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.

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.

Analyst Recommendations for Wingstop (NASDAQ:WING)

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