Wedbush set a $88.00 target price on Wingstop (NASDAQ:WING) in a research note published on Friday, TipRanks reports. The brokerage currently has a hold rating on the restaurant operator’s stock.
WING has been the topic of several other reports. Piper Jaffray Companies raised their price target on shares of Wingstop from $88.00 to $108.00 and gave the stock an overweight rating in a research note on Monday, July 15th. ValuEngine lowered shares of Wingstop from a buy rating to a hold rating in a report on Wednesday, October 2nd. Cowen set a $104.00 price objective on shares of Wingstop and gave the stock a buy rating in a report on Friday, September 27th. Zacks Investment Research upgraded shares of Wingstop from a hold rating to a buy rating and set a $98.00 price objective on the stock in a report on Saturday, October 5th. Finally, BidaskClub upgraded shares of Wingstop from a sell rating to a hold rating in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Wingstop presently has a consensus rating of Buy and a consensus target price of $100.38.
NASDAQ WING traded down $2.10 during trading hours on Friday, reaching $85.45. The company’s stock had a trading volume of 384,988 shares, compared to its average volume of 479,328. The stock has a market cap of $2.54 billion, a PE ratio of 101.75, a PEG ratio of 6.92 and a beta of 0.81. Wingstop has a fifty-two week low of $56.95 and a fifty-two week high of $107.43. The company’s 50-day moving average is $88.90 and its two-hundred day moving average is $89.03.
Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. The firm had revenue of $48.56 million for the quarter, compared to analysts’ expectations of $47.53 million. Wingstop had a net margin of 11.54% and a negative return on equity of 11.09%. The firm’s revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. As a group, equities research analysts forecast that Wingstop will post 0.73 earnings per share for the current year.
In related news, Director Michael J. Hislop sold 5,000 shares of Wingstop stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $93.74, for a total value of $468,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles R. Morrison sold 1,100 shares of Wingstop stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $101.06, for a total value of $111,166.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of Wingstop by 375.0% in the 2nd quarter. Invesco Ltd. now owns 1,165,972 shares of the restaurant operator’s stock valued at $110,476,000 after buying an additional 920,513 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Wingstop by 1,486.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 285,846 shares of the restaurant operator’s stock worth $27,083,000 after purchasing an additional 267,833 shares during the last quarter. Morgan Stanley lifted its holdings in Wingstop by 98.4% during the 2nd quarter. Morgan Stanley now owns 473,994 shares of the restaurant operator’s stock worth $44,911,000 after purchasing an additional 235,091 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Wingstop by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,389,552 shares of the restaurant operator’s stock worth $321,159,000 after purchasing an additional 204,867 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Wingstop by 10.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,179,100 shares of the restaurant operator’s stock worth $111,720,000 after purchasing an additional 113,200 shares during the last quarter.
Wingstop Company Profile
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 December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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