Wingstop (WING) Earns Equal Weight Rating from Barclays
Wingstop (NASDAQ:WING)‘s stock had its “equal weight” rating restated by research analysts at Barclays in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $44.00 target price on the restaurant operator’s stock, up from their previous target price of $36.00. Barclays’ target price points to a potential downside of 0.92% from the stock’s previous close.
Several other equities analysts also recently issued reports on WING. Stifel Nicolaus started coverage on shares of Wingstop in a report on Monday, October 2nd. They set a “hold” rating and a $35.00 price target for the company. Robert W. Baird reissued a “buy” rating and set a $39.00 price target on shares of Wingstop in a report on Monday, October 9th. Jefferies Group reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Wingstop in a report on Thursday, October 12th. Longbow Research assumed coverage on shares of Wingstop in a report on Friday, October 13th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.75.
Shares of Wingstop (NASDAQ:WING) traded down $0.67 on Tuesday, hitting $44.41. 439,300 shares of the stock traded hands, compared to its average volume of 618,710. Wingstop has a 52 week low of $24.74 and a 52 week high of $45.70. The firm has a market capitalization of $1,311.60, a P/E ratio of 61.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of -2.37.
In other Wingstop news, insider Flynn Dekker sold 16,350 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $35.77, for a total value of $584,839.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Hislop sold 5,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $41.03, for a total transaction of $205,150.00. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of WING. Riverhead Capital Management LLC raised its position in Wingstop by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock worth $108,000 after acquiring an additional 1,396 shares in the last quarter. Pinebridge Investments L.P. raised its position in Wingstop by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 3,818 shares of the restaurant operator’s stock worth $118,000 after acquiring an additional 52 shares in the last quarter. Turner Investments LLC bought a new stake in Wingstop in the third quarter worth about $150,000. Piedmont Investment Advisors LLC bought a new stake in Wingstop in the third quarter worth about $210,000. Finally, Bayesian Capital Management LP bought a new stake in Wingstop in the second quarter worth about $241,000.
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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