Wingstop (NASDAQ:WING) Upgraded by Northcoast Research to “Buy” Rating

Wingstop (NASDAQ:WING) was upgraded by equities research analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $300.00 price target on the restaurant operator’s stock. Northcoast Research’s price objective suggests a potential upside of 26.41% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Benchmark lowered their price target on Wingstop from $410.00 to $340.00 and set a “buy” rating for the company in a report on Monday, September 29th. BMO Capital Markets lifted their price target on shares of Wingstop from $275.00 to $345.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. Wall Street Zen cut shares of Wingstop from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. The Goldman Sachs Group reduced their price target on shares of Wingstop from $430.00 to $370.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Finally, Melius initiated coverage on shares of Wingstop in a research report on Monday, July 14th. They set a “hold” rating and a $350.00 price target on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and a consensus price target of $343.74.

Wingstop Price Performance

WING opened at $237.32 on Wednesday. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 2.99 and a beta of 1.73. The business has a 50-day moving average of $265.40 and a two-hundred day moving average of $301.08. Wingstop has a 12 month low of $204.00 and a 12 month high of $388.14.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 EPS for the quarter, beating the consensus estimate of $0.91 by $0.18. The company had revenue of $175.74 million during the quarter, compared to analysts’ expectations of $189.10 million. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities research analysts anticipate that Wingstop will post 4.18 earnings per share for the current year.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in the business. Optimize Financial Inc purchased a new position in shares of Wingstop during the 3rd quarter valued at approximately $485,000. Envestnet Asset Management Inc. boosted its stake in shares of Wingstop by 10.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 77,345 shares of the restaurant operator’s stock valued at $19,466,000 after buying an additional 7,201 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Wingstop by 1,650.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 99 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of Wingstop by 123.9% during the 3rd quarter. WCM Investment Management LLC now owns 102,687 shares of the restaurant operator’s stock valued at $25,861,000 after buying an additional 56,833 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Wingstop by 248.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 806 shares of the restaurant operator’s stock valued at $199,000 after buying an additional 575 shares during the last quarter.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.