Wingstop Inc. (WING) Stock Rating Upgraded by Wells Fargo & Co.
Wingstop Inc. (NASDAQ:WING) was upgraded by analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research note issued on Monday.
Several other equities research analysts also recently weighed in on WING. Zacks Investment Research downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Morgan Stanley reiterated a “buy” rating and set a $38.00 target price on shares of Wingstop in a research note on Friday, August 5th. Robert W. Baird reiterated an “outperform” rating and set a $33.00 target price on shares of Wingstop in a research note on Monday, August 8th. Jefferies Group reiterated a “buy” rating and set a $30.00 target price on shares of Wingstop in a research note on Monday, August 8th. Finally, Goldman Sachs Group Inc. increased their target price on shares of Wingstop from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.27.
Shares of Wingstop (NASDAQ:WING) opened at 29.41 on Monday. The company has a 50-day moving average price of $27.99 and a 200 day moving average price of $28.04. Wingstop has a 12-month low of $20.31 and a 12-month high of $33.10. The firm has a market capitalization of $845.45 million, a PE ratio of 57.89 and a beta of 0.72.
Wingstop (NASDAQ:WING) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Wingstop had a net margin of 17.11% and a negative return on equity of 69.17%. The company earned $21.80 million during the quarter. During the same quarter in the prior year, the company earned $0.11 EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Wingstop will post $0.57 earnings per share for the current year.
In other Wingstop news, insider David A. Vernon sold 6,540 shares of the 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 completion of the transaction, the insider now directly owns 80,349 shares of the company’s stock, valued at $2,306,016.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Neal K. Aronson sold 6,765,858 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $26.28, for a total transaction of $177,806,748.24. 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 modified their holdings of the stock. American International Group Inc. boosted its position in shares of Wingstop by 132.5% in the second quarter. American International Group Inc. now owns 9,060 shares of the company’s stock worth $247,000 after buying an additional 5,163 shares during the period. Cadence Capital Management LLC bought a new position in shares of Wingstop during the second quarter worth about $255,000. Parametric Portfolio Associates LLC bought a new position in shares of Wingstop during the second quarter worth about $298,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Wingstop during the second quarter worth about $325,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Wingstop during the third quarter worth about $330,000. 67.26% of the stock is owned by institutional investors.
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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