Wingstop Inc (WING) Rating Lowered to Hold at Zacks Investment Research

Wingstop Inc (NASDAQ:WING) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, May 4th.

According to Zacks, “Wingstop Inc. franchises and operates restaurants. The Company’s operating segment consists of Franchise segment and Company segment. It offers cooked-to-order, hand-sauced and tossed chicken wings. Wingstop Inc. is headquartered in Dallas, Texas. “

WING has been the topic of a number of other reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Wingstop in a research note on Wednesday, April 12th. Cowen and Company set a $34.00 target price on shares of Wingstop and gave the stock a “buy” rating in a research note on Saturday, March 4th. Wedbush reissued an “outperform” rating and set a $36.00 target price on shares of Wingstop in a research note on Friday, April 7th. Wells Fargo & Co cut their target price on shares of Wingstop to $31.00 in a research note on Friday, March 3rd. Finally, Robert W. Baird reissued an “outperform” rating on shares of Wingstop in a research note on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $34.27.

Analyst Recommendations for Wingstop (NASDAQ:WING)

Wingstop (NASDAQ:WING) traded up 1.48% on Thursday, hitting $30.18. The company’s stock had a trading volume of 402,988 shares. The company has a 50 day moving average price of $29.31 and a 200-day moving average price of $28.78. The company has a market capitalization of $874.53 million, a P/E ratio of 50.22 and a beta of 0.81. Wingstop has a 1-year low of $24.74 and a 1-year high of $33.42.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Thursday, May 4th. The restaurant operator reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. Wingstop had a net margin of 17.11% and a negative return on equity of 69.17%. The company had revenue of $26.57 million for the quarter, compared to analyst estimates of $24.22 million. During the same period in the prior year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Wingstop will post $0.70 earnings per share for the current fiscal year.

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In other news, insider Flynn Dekker sold 4,102 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $30.59, for a total value of $125,480.18. Following the completion of the sale, the insider now owns 44,014 shares in the company, valued at $1,346,388.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Mravle sold 34,605 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $30.82, for a total transaction of $1,066,526.10. Following the completion of the sale, the chief financial officer now owns 75,400 shares of the company’s stock, valued at approximately $2,323,828. The disclosure for this sale can be found here. 45.70% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in WING. BlackRock Inc. increased its stake in shares of Wingstop by 200,013.0% in the first quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock valued at $98,242,000 after buying an additional 3,472,225 shares in the last quarter. 12 West Capital Management LP purchased a new stake in shares of Wingstop during the fourth quarter valued at approximately $31,234,000. Wellington Management Group LLP increased its stake in shares of Wingstop by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,955,238 shares of the restaurant operator’s stock valued at $111,855,000 after buying an additional 533,086 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Wingstop during the fourth quarter valued at approximately $14,325,000. Finally, Cortina Asset Management LLC purchased a new stake in shares of Wingstop during the first quarter valued at approximately $13,430,000. Institutional investors own 92.13% of the company’s stock.

About Wingstop

Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.

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