Wingstop (WING) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Wingstop (NASDAQ:WING) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the stock. Wedbush reiterated an outperform rating and set a $74.00 target price (up from $70.00) on shares of Wingstop in a research report on Wednesday, October 10th. Gordon Haskett began coverage on shares of Wingstop in a research report on Thursday, October 18th. They set a buy rating and a $81.00 target price for the company. Robert W. Baird lifted their target price on shares of Wingstop from $53.00 to $65.00 and gave the company a neutral rating in a research report on Friday, October 12th. Stifel Nicolaus lowered shares of Wingstop from a buy rating to a hold rating and dropped their target price for the company from $80.00 to $75.00 in a research report on Tuesday, October 23rd. Finally, Morgan Stanley lowered shares of Wingstop from an overweight rating to an equal weight rating and set a $69.00 target price for the company. in a research report on Thursday, October 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $64.00.

Wingstop stock traded up $0.94 during mid-day trading on Thursday, hitting $69.99. 690,003 shares of the company traded hands, compared to its average volume of 601,886. Wingstop has a one year low of $41.76 and a one year high of $75.58. The firm has a market cap of $2.08 billion, a PE ratio of 94.58, a PEG ratio of 4.22 and a beta of 0.99.

Wingstop (NASDAQ:WING) last announced its earnings results on Monday, October 29th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Wingstop had a net margin of 21.14% and a negative return on equity of 21.61%. The business had revenue of $38.25 million during the quarter, compared to analyst estimates of $38.02 million. During the same period in the previous year, the business posted $0.16 earnings per share. Wingstop’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts anticipate that Wingstop will post 0.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 18th. Stockholders of record on Tuesday, December 4th were issued a $0.09 dividend. The ex-dividend date was Monday, December 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.51%. Wingstop’s payout ratio is 48.65%.

In other news, insider Lawrence Kruguer sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $62.41, for a total value of $162,266.00. Following the completion of the sale, the insider now directly owns 5,531 shares in the company, valued at approximately $345,189.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Wingstop by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 516,297 shares of the restaurant operator’s stock worth $26,909,000 after buying an additional 20,377 shares during the last quarter. SG Americas Securities LLC acquired a new position in Wingstop during the second quarter worth $445,000. Schwab Charles Investment Management Inc. increased its position in Wingstop by 4.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 150,248 shares of the restaurant operator’s stock worth $7,831,000 after buying an additional 6,348 shares during the last quarter. BlackRock Inc. increased its position in Wingstop by 7.9% during the second quarter. BlackRock Inc. now owns 4,027,863 shares of the restaurant operator’s stock worth $209,932,000 after buying an additional 293,311 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Wingstop by 6.6% during the second quarter. Legal & General Group Plc now owns 57,724 shares of the restaurant operator’s stock worth $3,018,000 after buying an additional 3,560 shares during the last quarter.

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 February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

See Also: Correction

Analyst Recommendations for Wingstop (NASDAQ:WING)

Receive News & Ratings for Wingstop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wingstop and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply