Wingstop (WING) Rating Lowered to Neutral at Guggenheim

Wingstop (NASDAQ:WING) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other equities analysts have also commented on the stock. BMO Capital Markets assumed coverage on shares of Wingstop in a research report on Tuesday, March 26th. They set an “outperform” rating and a $71.76 price target for the company. BidaskClub raised shares of Wingstop from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. Wedbush reiterated a “buy” rating and set a $74.00 price objective (up from $69.00) on shares of Wingstop in a research note on Wednesday, March 13th. Finally, Zacks Investment Research downgraded shares of Wingstop from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.52.

Shares of WING stock opened at $74.74 on Tuesday. Wingstop has a one year low of $45.53 and a one year high of $77.05. The company has a market cap of $2.23 billion, a P/E ratio of 88.98, a P/E/G ratio of 4.95 and a beta of 0.88.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, February 27th. The restaurant operator reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). Wingstop had a negative return on equity of 15.27% and a net margin of 14.18%. The company had revenue of $40.51 million for the quarter, compared to analyst estimates of $40.82 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Wingstop will post 0.79 EPS for the current fiscal year.

In other news, Chairman Charles R. Morrison sold 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $69.10, for a total value of $1,382,000.00. Following the completion of the transaction, the chairman now directly owns 128,998 shares in the company, valued at $8,913,761.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lawrence Kruguer sold 2,600 shares of the company’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $62.41, for a total transaction of $162,266.00. Following the completion of the transaction, the insider now owns 5,531 shares of the company’s stock, valued at $345,189.71. The disclosure for this sale can be found here. Insiders sold 52,700 shares of company stock valued at $3,533,959 over the last 90 days. Insiders own 1.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors boosted its stake in shares of Wingstop by 165.4% in the fourth quarter. Captrust Financial Advisors now owns 929 shares of the restaurant operator’s stock valued at $60,000 after purchasing an additional 579 shares during the period. Bank of Montreal Can increased its holdings in shares of Wingstop by 16.0% in the 4th quarter. Bank of Montreal Can now owns 1,525 shares of the restaurant operator’s stock worth $98,000 after acquiring an additional 210 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Wingstop by 200.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,204 shares of the restaurant operator’s stock worth $206,000 after acquiring an additional 2,139 shares during the period. Parametrica Management Ltd acquired a new stake in shares of Wingstop in the 4th quarter worth about $206,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Wingstop in the 3rd quarter worth about $247,000.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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