Wingstop (NASDAQ:WING) Price Target Lowered to $200.00 at DA Davidson

Wingstop (NASDAQ:WING) had its target price lowered by DA Davidson from $230.00 to $200.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the restaurant operator’s stock. DA Davidson’s price target points to a potential upside of 48.50% from the stock’s previous close.

WING has been the topic of several other reports. Benchmark decreased their price target on shares of Wingstop from $320.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Wall Street Zen raised shares of Wingstop from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. TD Cowen restated a “hold” rating and set a $160.00 target price on shares of Wingstop in a research report on Thursday, July 9th. Wells Fargo & Company lowered their target price on shares of Wingstop from $200.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price target on Wingstop from $250.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.30.

Wingstop Stock Performance

WING stock traded down $3.44 on Thursday, reaching $134.68. The company had a trading volume of 113,389 shares, compared to its average volume of 1,138,547. The company’s fifty day moving average is $151.30 and its 200 day moving average is $194.08. The company has a market cap of $3.67 billion, a P/E ratio of 33.55, a PEG ratio of 1.61 and a beta of 1.79. Wingstop has a 1 year low of $116.35 and a 1 year high of $381.45.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $183.72 million during the quarter, compared to the consensus estimate of $187.82 million. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.Wingstop’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. On average, sell-side analysts predict that Wingstop will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently added to or reduced their stakes in WING. SBI Securities Co. Ltd. lifted its holdings in Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 60 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 95 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 81 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Wingstop in the 2nd quarter worth about $46,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 119 shares during the period.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.