Wingstop (NASDAQ:WING) Rating Increased to Moderate Buy at Royal Bank Of Canada

Wingstop (NASDAQ:WING) was upgraded by investment analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Melius started coverage on shares of Wingstop in a report on Monday, July 14th. They set a “hold” rating and a $350.00 price objective for the company. William Blair started coverage on shares of Wingstop in a report on Wednesday, July 9th. They set an “outperform” rating for the company. Wells Fargo & Company raised their price objective on shares of Wingstop from $375.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. BMO Capital Markets raised their price objective on shares of Wingstop from $275.00 to $345.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Finally, TD Securities reissued a “buy” rating and set a $440.00 price objective on shares of Wingstop in a report on Tuesday, June 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $374.54.

Wingstop Trading Up 0.3%

WING opened at $249.75 on Wednesday. The company has a fifty day simple moving average of $296.74 and a 200 day simple moving average of $297.45. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 3.14 and a beta of 1.78. Wingstop has a twelve month low of $204.00 and a twelve month high of $407.09.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $174.33 million during the quarter, compared to analyst estimates of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. On average, analysts forecast that Wingstop will post 4.18 earnings per share for the current fiscal year.

Insider Transactions at Wingstop

In other news, CEO Michael Skipworth sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the transaction, the chief executive officer directly owned 42,777 shares in the company, valued at approximately $15,842,034.18. This trade represents a 9.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the completion of the transaction, the chief financial officer owned 8,362 shares in the company, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,838 shares of company stock worth $8,118,535. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Wingstop

Hedge funds have recently bought and sold shares of the company. Quaker Wealth Management LLC lifted its position in Wingstop by 134.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 408 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Wingstop in the 2nd quarter valued at about $43,000. Hantz Financial Services Inc. lifted its position in Wingstop by 4,200.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 129 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 126 shares during the last quarter. Signaturefd LLC lifted its position in Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 77 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Wingstop by 623.8% in the 2nd quarter. True Wealth Design LLC now owns 152 shares of the restaurant operator’s stock valued at $51,000 after purchasing an additional 131 shares during the last quarter.

About Wingstop

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.