Wingstop (NASDAQ:WING) Sees Large Volume Increase After Better-Than-Expected Earnings

Wingstop Inc. (NASDAQ:WING) shares saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 1,275,237 shares changed hands during trading, an increase of 53% from the previous session’s volume of 834,082 shares.The stock last traded at $238.8120 and had previously closed at $214.07.

The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WING shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Wingstop in a report on Thursday, October 30th. Barclays dropped their price objective on shares of Wingstop from $440.00 to $330.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Wells Fargo & Company dropped their price objective on shares of Wingstop from $415.00 to $365.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Melius began coverage on shares of Wingstop in a research report on Monday, July 14th. They set a “hold” rating and a $350.00 target price for the company. Finally, UBS Group restated a “neutral” rating and set a $295.00 target price on shares of Wingstop in a research report on Tuesday, October 28th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.60.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WING. T. Rowe Price Investment Management Inc. acquired a new position in shares of Wingstop during the 1st quarter worth about $212,672,000. Price T Rowe Associates Inc. MD raised its position in shares of Wingstop by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock worth $371,517,000 after purchasing an additional 496,717 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Wingstop by 130.7% during the 1st quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator’s stock worth $142,564,000 after purchasing an additional 358,044 shares during the last quarter. Norges Bank acquired a new position in shares of Wingstop during the 2nd quarter worth about $118,211,000. Finally, Wasatch Advisors LP acquired a new position in shares of Wingstop during the 2nd quarter worth about $114,758,000.

Wingstop Trading Up 12.6%

The firm’s 50-day moving average is $267.16 and its two-hundred day moving average is $300.95. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 39.99, a P/E/G ratio of 3.03 and a beta of 1.73.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.