Wingstop (NASDAQ:WING) Reaches New 12-Month Low – What’s Next?

Shares of Wingstop Inc. (NASDAQ:WING) hit a new 52-week low on Thursday . The stock traded as low as $108.25 and last traded at $108.9160, with a volume of 78444 shares trading hands. The stock had previously closed at $112.24.

Analyst Upgrades and Downgrades

WING has been the topic of a number of research analyst reports. Weiss Ratings lowered Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Stephens reissued an “overweight” rating and issued a $200.00 price target on shares of Wingstop in a report on Thursday, July 30th. Bank of America reduced their price objective on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Mizuho lowered their price objective on shares of Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Finally, UBS Group reiterated a “neutral” rating on shares of Wingstop in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Wingstop has an average rating of “Moderate Buy” and an average price target of $241.81.

Wingstop Stock Performance

The firm has a market capitalization of $2.95 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81. The firm has a 50 day moving average price of $140.06 and a two-hundred day moving average price of $167.97.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. Equities research analysts forecast that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be given a $0.33 dividend. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. Wingstop’s dividend payout ratio is 31.35%.

Institutional Trading of Wingstop

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Wingstop in the 2nd quarter worth approximately $481,314,000. TimesSquare Capital Management LLC acquired a new stake in Wingstop during the 2nd quarter valued at $15,874,000. Carnegie Investment Counsel raised its stake in Wingstop by 32.4% during the 1st quarter. Carnegie Investment Counsel now owns 68,489 shares of the restaurant operator’s stock valued at $10,614,000 after purchasing an additional 16,764 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Wingstop in the second quarter valued at $80,456,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Wingstop in the second quarter valued at $19,130,000.

Wingstop Company Profile

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.