Wingstop (WING) Sees Large Volume Increase After Analyst Upgrade

Wingstop (NASDAQ:WING) shares saw unusually-high trading volume on Tuesday after Morgan Stanley raised their price target on the stock from $50.00 to $52.00. Morgan Stanley currently has an overweight rating on the stock. Approximately 501,056 shares traded hands during trading, a decline of 14% from the previous session’s volume of 581,346 shares.The stock last traded at $50.94 and had previously closed at $51.09.

Other equities analysts have also issued reports about the stock. Barclays reiterated an “equal weight” rating and issued a $44.00 target price (up from $36.00) on shares of Wingstop in a report on Tuesday, January 16th. Zacks Investment Research raised shares of Wingstop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Wells Fargo reissued an “outperform” rating and issued a $52.00 price objective (up from $37.00) on shares of Wingstop in a research report on Tuesday, January 23rd. Stephens reissued a “buy” rating and issued a $50.00 price objective on shares of Wingstop in a research report on Wednesday, January 31st. Finally, Cowen reissued an “outperform” rating and issued a $51.00 price objective (up from $46.00) on shares of Wingstop in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $45.92.

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In related news, insider Stacy Peterson sold 12,350 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $48.04, for a total value of $593,294.00. Following the transaction, the insider now directly owns 39,423 shares of the company’s stock, valued at approximately $1,893,880.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $48.30, for a total transaction of $241,500.00. The disclosure for this sale can be found here. Insiders sold a total of 41,120 shares of company stock worth $1,951,212 over the last ninety days. Insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new stake in shares of Wingstop in the 3rd quarter worth $210,000. First Mercantile Trust Co. purchased a new position in Wingstop during the 4th quarter valued at about $223,000. Fortaleza Asset Management Inc. increased its holdings in Wingstop by 71.0% during the 4th quarter. Fortaleza Asset Management Inc. now owns 5,960 shares of the restaurant operator’s stock valued at $232,000 after acquiring an additional 2,475 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in Wingstop by 25.7% during the 4th quarter. Meadow Creek Investment Management LLC now owns 5,984 shares of the restaurant operator’s stock valued at $233,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Wingstop during the 4th quarter valued at about $278,000.

The company has a debt-to-equity ratio of -2.69, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $1,407.67, a price-to-earnings ratio of 69.04, a PEG ratio of 3.25 and a beta of 0.90.

Wingstop (NASDAQ:WING) last posted its earnings results on Thursday, February 22nd. The restaurant operator reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Wingstop had a net margin of 25.87% and a negative return on equity of 37.25%. The firm had revenue of $28.29 million during the quarter, compared to the consensus estimate of $27.49 million. During the same period last year, the firm posted $0.15 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. analysts forecast that Wingstop will post 0.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.28 annualized dividend and a yield of 0.55%. Wingstop’s dividend payout ratio (DPR) is currently 28.38%.

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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.

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