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.
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.
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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