Wingstop (WING) PT Raised to $80.00 at Stephens

Wingstop (NASDAQ:WING) had its target price boosted by Stephens from $75.00 to $80.00 in a research note issued on Wednesday, May 8th, The Fly reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Stephens’ target price suggests a potential upside of 0.40% from the company’s previous close.

A number of other analysts have also recently commented on WING. BidaskClub upgraded Wingstop from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 10th. Zacks Investment Research upgraded Wingstop from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. Wedbush dropped their price target on Wingstop from $74.00 to $69.00 and set an “outperform” rating for the company in a research report on Thursday, February 28th. BMO Capital Markets assumed coverage on Wingstop in a research report on Tuesday, March 26th. They set an “outperform” rating and a $71.76 price target for the company. Finally, Guggenheim cut Wingstop from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Wingstop has a consensus rating of “Hold” and an average target price of $70.99.

Shares of NASDAQ:WING opened at $79.68 on Wednesday. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 94.86, a P/E/G ratio of 5.39 and a beta of 0.85. Wingstop has a 12-month low of $47.83 and a 12-month high of $82.00.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $48.05 million during the quarter, compared to analysts’ expectations of $45.68 million. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The business’s revenue was up 28.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. Equities research analysts predict that Wingstop will post 0.74 EPS for the current fiscal year.

In related news, insider Lawrence Kruguer sold 1,466 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $79.72, for a total transaction of $116,869.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Morrison sold 20,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $69.10, for a total value of $1,382,000.00. Following the transaction, the chairman now directly owns 128,998 shares in the company, valued at approximately $8,913,761.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,918 shares of company stock worth $3,649,754. 1.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WING. Half Sky Capital UK Ltd purchased a new stake in Wingstop during the 4th quarter worth about $26,192,000. Renaissance Technologies LLC increased its holdings in Wingstop by 52.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,065,900 shares of the restaurant operator’s stock worth $81,040,000 after purchasing an additional 367,200 shares during the period. Squarepoint Ops LLC increased its holdings in Wingstop by 484.3% during the 4th quarter. Squarepoint Ops LLC now owns 298,533 shares of the restaurant operator’s stock worth $19,163,000 after purchasing an additional 247,441 shares during the period. Wells Fargo & Company MN increased its holdings in Wingstop by 44.3% during the 1st quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock worth $41,221,000 after purchasing an additional 166,571 shares during the period. Finally, Millennium Management LLC increased its holdings in Wingstop by 316.6% during the 4th quarter. Millennium Management LLC now owns 191,089 shares of the restaurant operator’s stock worth $12,266,000 after purchasing an additional 145,216 shares during the period.

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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