SunTrust Banks Weighs in on Wingstop Inc.’s FY2016 Earnings (WING)
Wingstop Inc. (NASDAQ:WING) – Stock analysts at SunTrust Banks upped their FY2016 EPS estimates for Wingstop in a research note issued on Wednesday. SunTrust Banks analyst J. Bartlett now forecasts that the firm will post earnings of $0.57 per share for the year, up from their prior estimate of $0.56. SunTrust Banks also issued estimates for Wingstop’s FY2017 earnings at $0.68 EPS.
WING has been the subject of a number of other research reports. Goldman Sachs Group Inc. upped their target price on shares of Wingstop from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Morgan Stanley reaffirmed a “buy” rating and set a $38.00 target price on shares of Wingstop in a report on Friday, August 5th. Zacks Investment Research raised shares of Wingstop from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Thursday, September 1st. KeyCorp began coverage on shares of Wingstop in a report on Wednesday, September 7th. They set an “overweight” rating and a $36.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 target price (up previously from $35.00) on shares of Wingstop in a report on Monday, August 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $32.27.
Shares of Wingstop (NASDAQ:WING) opened at 28.40 on Friday. Wingstop has a one year low of $20.31 and a one year high of $33.10. The stock has a market capitalization of $815.88 million, a PE ratio of 54.10 and a beta of 0.63. The firm’s 50-day moving average is $29.43 and its 200-day moving average is $27.44.
Wingstop (NASDAQ:WING) last announced its earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Wingstop had a net margin of 18.15% and a negative return on equity of 218.88%. The business earned $22.70 million during the quarter, compared to analysts’ expectations of $22.05 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis.
In other Wingstop news, insider David A. Vernon sold 6,540 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $28.70, for a total value of $187,698.00. Following the transaction, the insider now owns 80,349 shares of the company’s stock, valued at $2,306,016.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Neal K. Aronson sold 6,000,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $28.50, for a total transaction of $171,000,000.00. The disclosure for this sale can be found here. 45.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Wingstop by 59.4% in the first quarter. Wellington Management Group LLP now owns 1,968,024 shares of the company’s stock worth $44,635,000 after buying an additional 733,201 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Wingstop during the first quarter worth approximately $13,551,000. California State Teachers Retirement System boosted its position in Wingstop by 134.2% in the second quarter. California State Teachers Retirement System now owns 33,002 shares of the company’s stock worth $899,000 after buying an additional 18,912 shares during the last quarter. BlackRock Group LTD bought a new position in Wingstop during the first quarter worth approximately $3,004,000. Finally, Franklin Resources Inc. boosted its position in Wingstop by 5.5% in the first quarter. Franklin Resources Inc. now owns 1,194,419 shares of the company’s stock worth $27,090,000 after buying an additional 61,785 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.
Wingstop Company Profile
Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.
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