Wingstop (NASDAQ:WING) Lifted to Buy at Stifel Nicolaus

Wingstop (NASDAQ:WING) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Monday, June 3rd, Marketbeat.com reports. The firm currently has a $92.00 price objective on the restaurant operator’s stock, up from their previous price objective of $80.00. Stifel Nicolaus’ target price points to a potential downside of 100.00% from the stock’s current price.

A number of other research analysts have also recently commented on WING. Piper Jaffray Companies assumed coverage on Wingstop in a report on Monday, May 13th. They issued an “overweight” rating and a $88.00 price target on the stock. Zacks Investment Research cut Wingstop from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. BidaskClub cut Wingstop from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. BMO Capital Markets initiated coverage on Wingstop in a report on Tuesday, March 26th. They set an “outperform” rating and a $71.76 price objective on the stock. Finally, Wedbush decreased their price objective on Wingstop from $74.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.13.

Shares of NASDAQ:WING traded up $163,844,897.34 during mid-day trading on Monday, reaching $163,844,992.00. 537,068 shares of the company traded hands, compared to its average volume of 516,758. The stock’s 50 day simple moving average is $85.30. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 195,053,561.90, a PEG ratio of 6.37 and a beta of 0.74. Wingstop has a 52 week low of $47.83 and a 52 week high of $95.14.

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

In related news, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $89.05, for a total transaction of $445,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles R. Morrison sold 20,009 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $78.10, for a total value of $1,562,702.90. Following the sale, the chief executive officer now owns 123,007 shares in the company, valued at approximately $9,606,846.70. The disclosure for this sale can be found here. Insiders have sold a total of 29,678 shares of company stock worth $2,374,961 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in Wingstop by 16.1% in the 4th quarter. Bank of America Corp DE now owns 171,701 shares of the restaurant operator’s stock valued at $11,022,000 after acquiring an additional 23,781 shares during the last quarter. Mason Street Advisors LLC grew its position in Wingstop by 3.6% in the 1st quarter. Mason Street Advisors LLC now owns 9,421 shares of the restaurant operator’s stock valued at $716,000 after acquiring an additional 323 shares during the last quarter. Wells Fargo & Company MN grew its position in Wingstop by 44.3% in the 1st quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock valued at $41,221,000 after acquiring an additional 166,571 shares during the last quarter. New York State Teachers Retirement System grew its position in Wingstop by 26.8% in the 4th quarter. New York State Teachers Retirement System now owns 33,935 shares of the restaurant operator’s stock valued at $2,178,000 after acquiring an additional 7,170 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in Wingstop by 334.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,933 shares of the restaurant operator’s stock valued at $573,000 after acquiring an additional 6,875 shares during the last quarter.

About Wingstop

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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Analyst Recommendations for Wingstop (NASDAQ:WING)

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